PSB to Offer Unsecured Subordinated Notes as Tier 2 Capital

Makati–(PHStocks)–Philippine Savings Bank (PSE: PSB) will be offering to the public unsecured subordinated notes qualifying as Tier 2 Capital (Tier 2 Notes). The issuance has been approved by the Bangko Sentral ng Pilipinas (BSP). The salient features of the Tier 2 Notes are as follows:

Issue Size: Up to PHP3 billion

Indicative Interest Rate: In the Area of 5.875% p.a.

Interest Payment: Quarterly

Optional Redemption by Issuer: February 2017

Maturity: February 2022

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