Chinabank plans P100B fundraising over three years

China Banking Corp. (Chinabank) plans to raise P100 billion in fresh funds through bonds and commercial papers over the next three years.

The board of directors approved this fundraising program during a regular meeting on January 8, with proceeds aimed at supporting strategic initiatives and expansion programs.

This marks Chinabank's return to the debt market after nearly four years; its last issuance was in February 2021 when it raised P20 billion from three-year peso bonds.

Chinabank's net income increased by 29.43% year-on-year to P6.93 billion in the third quarter of 2024, contributing to a record nine-month profit of P18.4 billion.

The bank appointed Philippine Commercial Capital, Inc., and HSBC as joint lead arrangers for this upcoming issuance.