PSBank advances buyers’ deadline for P3-B Tier 2 notes

Philippine Savings Bank, the Metrobank group’s thrift bank, has adjusted the offer period for its Tier 2 notes owing to "healthy demand from the investor market."   "PSBank has decided to advance the deadline for the submission of duly executed applications to purchase for its Tier 2 Notes to February 9, 2012 from February 16, 2012,” the bank told the Philippine Stock Exchange in a disclosure Thursday.   “PSBank has also advanced the Issue Date for the Tier 2 Notes to February 20, 2012," it added.   Proceeds of the notes will be used to finance PSBank’s asset growth and strengthen its capital base, the bank noted.   Last December, PSBank disclosed that its notes were assigned the highest rating of “Aaa” by Philippine Rating Services Corp.   The P3-billion notes have a 10-year tenor, with a call option on the fifth year. — CMA/VS, GMA News