BDO Lists a Record PhP 11.8 Billion Issuance of LTNCTD in PDExPosted on: August 18, 2017
18 August 2017, Makati Philippines – The PDEx local debt market celebrated a milestone with BDO Unibank, Inc.’s (BDO) listing of PhP 11.8 Billion Long-Term Negotiable Certificates of Deposit (LTNCTD) due 2023 – the largest single LTNCTD issuance to date.
BDO Executive Vice President and Treasurer Pedro M. Florescio led the ringing of the bell to herald the listing and start of trading of BDO’s latest tranche of LTNCTDs due 2023 on the PDEx platform. He said, “With the listing in PDEx, we expect to have an access to a broader market, thus facilitate a secondary trading and ultimately create more depth in the domestic capital market.”
In his opening remarks, PDS Group President and CEO Cesar Crisol said: “This listing makes BDO the 8th bank to tap the local debt market this year, a testament to the viability of the domestic debt market as a wholesale funding source with robust investor demand for prime corporations like BDO.”
The event was attended by BDO Unibank, Inc. Officers led by Executive Vice President and Treasurer Pedro M. Florescio and the Joint Lead Arrangers ING Bank N.V., Manila Branch Country Manager Consuelo Garcia and Deutsche Bank AG Manila Chief Country Officer Enrico Cruz.
BDO’s latest LTNCTD issuance brings the total listed amount of the SM Group on PDEx at PHP 155.24 Billion, representing 21% of the overall tradable corporate debt of PhP 754.92 Billion, and PDEx’ year-to-date total of new listings to PhP 154.52 Billion, a 176% increase from the same period last year.#