MANILA, Philippines — Philippine National Bank raised P4.6 billion as it tapped the onshore debt market anew via the issuance of long-term negotiable certificates of deposits (LTNCDs). PNB president and chief executive officer Jose Arnulfo “Wick” Veloso said the latest fund raising activity was 2.3 times oversubscribed from the issue size of P2 billion. PNB has been very active in offering investment opportunities to clients. Veloso said the recent fund raising activity is the second tranche of its P20-billion LTNCD program. Of the total amount, the bank has raised P12.82 billion after issuing P8.22 billion worth of 5.5-year LTNCD last February.

Source: Philippine Star October 11, 2019 16:30 UTC