Metrobank Returns to the PDEx Organized Secondary MarketPosted on: September 19, 2016
19 September 2016, Makati Philippines – Metropolitan Bank & Trust Company (Metrobank), the first bank to list its issues in the registered market in 2009, returned to the PDEx platform a third time, following the issuance of its PhP 14.25 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTDs) due 2020 and 2021 last 2014. Metrobank’s third listing in PDEx of PhP 8.65 billion LTNCTDs brings its total amount of outstanding issues listed to PhP 22.9 Billion.
Metrobank Senior Vice President Edgar Alan P. Guerrero led the ringing of the listing bell to herald the start of trading of the PhP 8.65 Billion MBT LTNCTDs due 2023 in the secondary market.
With this eighth listing for the year, the year-to-date total of new corporate listings amounts to PhP 64.69 Billion while the total level of tradable corporate debt instruments increases to PhP 594.80 billion issued by 37 companies, comprised of 109 securities.
In his welcome remarks, PDEx President and COO Antonino A. Nakpil said, “We are happy to note that the demand for this issue has brought the subscription above the original PHP 5 Billion planned. This is again evidence of the confidence of investors and depositors in Metrobank. And this is consistent with Metrobank’s own overall activity in the fixed income market for which it has won the Cesar E.A. Virata Award as the Best Securities House in the Bank Category for three years running, no mean feat.”
The event was held at the PDS Group Assembly Hall and was graced by Metrobank Officers, including Senior Vice President Edgar Alan P. Guerrero, Senior Vice President Jette C. Gamboa, and Senior Vice President Marilou C. Bartolome.
Representatives from the issue participants who attended the event are ING Bank N.V., Manila Branch Country Manager Consuelo D. Garcia and ING Bank Managing Director Johnson Sia, and Picazo Law partners Atty. Gabriel A. Dee and Atty. Graciella Marie D. Baldos-Paz. #