DCM CSB Gender

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 The proposed investment is an up to US$100 million or in PHP equivalent own account investment in a senior, unsecured, fixed rate, Gender Bond or Loan (subject to regulatory approvals) to be issued by CSB with a tenor of 3 to 5 years. City Savings Bank, Inc. (“CSB or CitySavings”) is seeking to raise up to US$200 million equivalent (inclusive of the IFC investment amount) in total; IFC will aim to mobilize the financing gap of US$100 million. The bond is expected to be aligned with International Capital Markets Association (ICMA) social bond principles. Incorporated in 1965, CSB is the 2nd largest thrift bank in the country (in terms of assets) and a subsidiary (99.9% owned) of Union Bank of the Philippines (“UBP” or “UnionBank”). CSB focuses on providing mass market financial products, particularly teacher salary loans, pension loans, government/company salary loans, motorcycle loans, and traditional deposit products. CSB provides its products through its own 149 bank branch network (52% in Luzon ex-NCR, 21% in Visayas, 19% in Mindanao, and 11% in NCR) and 3,380 branches and sub-agents of its affiliate entity, PETNET.