PNB to raise $300m from debt market

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Philippine National Bank , the lending arm of tycoon Lucio Tan, is returning to the overseas debt market to raise at least $300 million.

The last time PNB ventured into the overseas debt market was in 2019 wherein it raised $300 million to beef up its capital base and bankroll its expansion plans. Core income in the first quarter amounted to P12.9 billion, up by 7 percent from a year ago, with net interest margin growing 12 percent year-on-year to P11.7 billion.

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MlaStandard /  🏆 20. in PH

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