Robinsons Bank Corp. plans to issue 5 billion pesos of long-term negotiable certificates of deposit.
The bank said May 30 that it plans to issue the 5.5-year LTNCDs in one or two tranches within one year. The final pricing of the LTNCDs will be determined at the time of issuance.
The bank said it will use proceeds to grow its assets, manage its liquidity coverage ratio and meet investor demand for high-yielding securities.
ING Bank NV is the arranger for the issue.
As of May 30, US$1 was equivalent to 52.54 Philippine pesos.
