China Bank Lists PhP 6.348 Billion Tranche 2 LTNCTDS on PDExPosted on: June 2, 2017
02 June 2017, Makati Philippines – China Banking Corporation returned to the local debt market to ring the bell for its second tranche of Long-Term Negotiable Certificates of Time Deposit (LTNCTD). Following the issuance of its maiden PhP 9.588 Billion LTNCTDs last November 2016, the PhP 6.348 Billion of 5.5 Year LTNCTDs puts China Bank’s total outstanding amount of listed issues at PhP 15.936 Billion.
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 this listing, the total outstanding listed issues of the SM Group totalled PhP 140.7 billion, accounting for 20% of the overall outstanding listed securities on PDEx.
This listing brings the total year-to-date level of new listings past the PhP 100 Billion mark, amounting to PhP 101.98 Billion; while the total level of tradable corporate debt instruments increased to PhP 708.64 Billion consisting of 121 securities listed by 43 companies.
PDEx President and COO Antonino Nakpil said: “We look forward to seeing China Bank add to its vaunted loyal depositor base, a new core of equally loyal clients – investors whether retail or professional, confident of the investment alternatives presented to them from the primary or the secondary markets.”
For the issuer’s part, China Bank President and CEO Ricardo Chua remarked: “I would like to cite in particular the very strong support from our branches in tapping our very loyal customer base for this issue. This favorable response is a strong signal support from our shareholders, investors, depositors, reflecting their trust and confidence in China Bank.”
The listing ceremony was attended by China Bank Group Directors and Officers – Chairman Hans Sy, President and CEO Ricardo Chua, Senior Vice President Alexander Escucha, Senior Vice President Patrick Cheng, China Bank Capital President Romeo Uyan, Jr., China Bank Capital Managing Director Ryan Martin Tapia, and China Bank Capital Managing Director Virgilio Chua.
Joining them were the Sole Arranger, Bookrunner and Selling Agent Standard Chartered Bank CEO Lynette Ortiz and Selling Agent Multinational Investment Bancorporation President Marilou Cristobal. #