PSBank in P10-B loan facility for Ayala Land

March 6, 2011 - PRLog -- The Fixed Rate Note Facility with 5-, 10-, and 15-year tenors was managed by HSBC, Citicorp Capital Philippines, Inc., and BPI Capital Corporation. Proceeds will be used by ALI for general corporate purposes, including the refinancing of existing outstanding debt.
PSBank participated in the 10-year fixed rate note amounting to P500 million. It was one of only two savings banks that participated.
“We are very happy to join this long-term credit facility because we continue to believe in the strong prospects of Ayala Land, one of the largest prime property developers in the country. Our constant participation in the large segment commercial lending market is testament of PSBank’s growth and stability,” PSBank President Pascual M. Garcia III said.
Aside from the ALI deal, PSBank has also participated in the credit facilities for PLDT, Smart, Meralco, Aboitiz Equity Ventures and Aboitiz Power Corporation over the past two years.

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PSBank is the first publicly listed thirft bank in the Philippines. It caters mainly to the retail and consumer markets and offers a wide range of products and services such as deposits,loans, treasury and trust.