PBCom to redeem P7.7B in corporate bonds
PHILIPPINE BANK of Communications (PBCom) will fully redeem P7.69 billion in corporate bonds following their maturity on Tuesday.
鈥淭he Philippine Bank of Communications announces the maturity of P7.693 billion in corporate bonds issued on Nov. 5, 2024, which the bank will fully redeem,鈥 the bank said in a disclosure to the local bourse.
The bonds made up the first issuance out of PBCom鈥檚 P15-billion bond program, which was approved by its board of directors in March 2024.
The bond offer was met with strong demand as the amount raised was 3.85 times the initial P2-billion target.
The 1.5-year papers were priced at a fixed interest rate of 6.0796% per annum.
Proceeds from the issuance were used for general corporate purposes, including refinancing debt obligations, diversifying funding sources, and supporting loan growth.
PBCom鈥檚 net income grew by 15.28% year on year to P2.55 billion in 2025.
Its shares went down by 32 centavos or 1.91% to close at P16.44 apiece on Tuesday. 鈥 Aaron Michael C. Sy
