Robinsons Bank raises P1.78 billion from LTNCD offer

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A ROBINSONS Bank branch is seen in Ermita, Manila. — BW FILE PHOTO

Robinsons Bank Corp. raised P1.78 billion of long-term negotiable certificates of deposit (LTNCD), which it wants to use to support its loan growth.

At the ceremonial listing of the investment instruments on Monday at the Philippine Dealing System (PDS) in Makati City, the Gokongwei-led lender said it raised P1.781 billion from the peso-denominated issue.

The notes will mature in 5.5 years and carry an interest rate of 4.875% to be paid quarterly until Jan. 16, 2024. — Karl Angelo N. Vidal