ChinaBank to offer P20B high-yielding deposits
China Banking Corp. plans to issue log-term negotiable certificates of time deposit amounting to as much as P20 billion to support its expansion initiatives.
The Philippines’ seventh largest lender by assets will use proceeds from the offering to fund its asset generation plans and expansion program.
China Bank just concluded the issuance of at least P5 billion in fixed-rate bonds. The offering is part of ChinaBank’s P75 billion fundraising program for the next three years.