China Bank Lists Maiden PhP 9.588 Billion Bonds on PDExPosted on: November 18, 2016
18 November 2016, Makati Philippines – China Banking Corporation (China Bank) debuted in the PDEx organized secondary market with the issuance and listing of its PhP 9.588 Billion Long Term Negotiable Certificates of Time Deposit Due 2022.
This twelfth listing for the year brought the total year-to-date volume of new listings past the PhP 100 Billion target, amounting to PhP 104.28 Billion; while the total level of tradable corporate debt instruments increased to PhP 631.39 Billion issued by 39 companies, comprised of 113 securities.
China Bank is part of the SM Group, whose other affiliates, SM Investments Corporation, BDO Unibank, Inc., and SM Prime Holdings, Inc. are also PDEx listed issuers. With China Bank’s maiden listing, the total outstanding listed issues of the SM Group totalled PHP xx billion, accounting for xx% of the overall outstanding listed bonds on PDEx.
PDS Group President and CEO Cesar B. Crisol highlighted China Bank’s stellar performance both in the fixed income and equities markets, ranking first among the Top Corporate Issue Managers and Arrangers Award for the banking sector in this year’s PDS Awards; while recently bagging the PSE Bell Awards for five consecutive years.
“With such testimonials backing it, we do expect to see more of China Bank in the next years, and like a number of our current corporate issuers, become a steady provider of investment instruments to the growing number of fixed income investors,” added Mr. Crisol.
China Bank President and CEO Ricardo Chua remarked: “This is our first local capital markets transaction since our LTNCTD issue back in 2008 and our first listed issuance with PDEx. We are very pleased with the investor response and take-up of our LTNCTD issue.”
The event was held at the PDS Group Assembly Hall and was graced by China Bank Directors and Officers including Chairman Hans Sy, President and CEO Ricardo Chua, and Senior Vice President Alexander Escucha.
The issue participants who attended the listing ceremony were Australia and New Zealand Banking Group Limited Country Head Peter Chan, The Hongkong and Shanghai Banking Corporation Limited Treasurer and Global Markets Head Roberto Baltazar, Standard Chartered Bank CEO Lynette Ortiz, and China Bank Capital Corporation President Romeo Uyan.#