Friday, January 21, 2005
Plantersbank Raises P1B in Tier II Capital
Planters Development Bank (Plantersbank) raised a total of P 1 billion worth of Tier II subordinated notes to strengthen its equity base.
Citigroup was tapped as issue manager for the Tier II capital issue. The move intends to boost the bank’s capital base, allowing it to better pursue its developmental thrust for small and medium enterprises.
Plantersbank is a private development banking institution focused on Small and Medium Enterprises. Sharing its vision are prestigious foreign institutional shareholders such as the World Bank’s International Finance Corporation (IFC), Netherlands Development Finance Company (FMO) and the Asian Development Bank (ADB) which altogether own over 40 percent of Plantersbank.