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Prospect News home > News index > List of issuers P > Headlines for Philippine Business Bank > News item
Published on 2/18/2016 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Philippine Business Bank aims to redeem all preferreds by year-end

By Marisa Wong

Morgantown, W.Va., Feb. 18 – Philippine Business Bank said it is planning to redeem all of its preferred shares, totaling PHP 620 million, by the end of December 2016.

The staggered redemptions will take place beginning in June, according to a Philippine Stock Exchange notice.

The redemption price will be par.

The bank’s board of directors approved the redemption at its meeting on Wednesday.

The bank is based in Caloocan City, Philippines.


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