The Philippine National Bank (PNB), part of tycoon Lucio Tan's business empire, successfully returned to the offshore bond market, raising $300 million through a five-year sustainability bond offering. This marks PNB’s first bond issuance in five years and forms part of its $2-billion euro medium term note program.
Philippine National Bank , the financial arm of tycoon Lucio Tan, successfully returned to the offshore bond market, raising $300 million from a five-year sustainability bond offering.
PNB said there was strong interest in the offering, which was more than 3.6 times oversubscribed, totaling $1.1 billion from global investors.“We believe this is an ideal time to return to the market, given the reduction in interest rates complemented by the bank’s improved core banking activities.
By investor type, 67 percent were asset managers and hedge funds, 23 percent were banks and 10 percent included private banks and broker dealers. He said the bank would use the funds for sustainable financing initiatives, strengthening its role in the Philippine banking system.
BNK Sustainability Bond Offering Lucio Tan Philipp
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GoTyme Bank: #1 bank in customer experience and most-recommended bank in the PhilippinesGoTyme Bank receives the highest CX Index and NPS scores among local banks in an independent survey.
Read more »
Philippine Men's National Football Team in King's CupLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Philippine Coast Guard salutes Filipino seafarers on National Maritime WeekDefining the News
Read more »
PCG holds strategy meeting for 2025 midterm electionsThe 4th Infantry Division joined the Philippine Coast Guard, Philippine National Police Region-10, and the Commission on Elections (COMELEC) in finalizing
Read more »
PCG resumes patrol in disputed shoalA PHILIPPINE Coast Guard (PCG) ship was now patrolling off Escoda Shoal in the West Philippine Sea, the National Security Council (NSC) has reported.
Read more »
PNP chief reopens Barayuga slay case(UPDATE) PHILIPPINE National Police (PNP) chief Gen. Rommel Marbil on Sunday ordered the reopening of the case involving the killing of Philippine Charity Sweepstakes Office (PCSO) board secretary Wesley Barayuga in 2020.
Read more »