Philippine National Bank Lists PhP 6.350 Billion LTNCTD in PDExPosted on: October 26, 2017
26 October 2017, Makati Philippines – The local debt market community welcomed back one of the country’s leading private universal banks in the country, Philippine National Bank (PNB), for the listing of its PhP 6.350 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD) due 2023.
This is the fourth listing of PNB at PDEx and the second one for 2017, bringing the total amount of LTNCTDs it has listed in PDEx to PhP 22.495 Billion.
PNB Executive Vice President and Chief Financial Officer Nelson Reyes led the ringing of the listing bell to herald the start of trading of the PNB LTNCTDs due 2023 in the PDEx bourse. He said, “PNB is determined to continue our sustained path to even stronger and more solid gains, taking full advantage of available market opportunities in our growing economy, while addressing the financing needs of our loyal customer base. This 5.5 year LTNCD would allow us to match funding gaps with our long term assets and help fund new long term loans.”
PNB’s listing marks the 25th corporate debt listing for the year which brings the total volume of new listings as of October 2017 to PHP 163.49 Billion, a 73% increase from the same period last year. To date, there is a total of 125 debt securities listed in PDEx with an increase brought forth from six new and 12 returning Issuers.
For his part, PDS Group President and CEO Cesar Crisol remarked: “We look forward to bringing the capital raising momentum forward to next year as the capital market faces our growing economy’s continuing requirements for business expansion and infrastructure financing.”
Gracing the event were PNB senior officers, including President Reynaldo Maclang, Executive Vice President, Chief Financial Officer, and Head of Financial Management Sector Nelson Reyes, Senior Vice President and Corporate Treasurer Maria Paz Lim, Senior Vice President, Chief Marketing Officer and Head of the Marketing and Product Development Group Norman Martin Reyes, Senior Vice President, Treasury Sales and Distribution Division Head Lourdes Liwag, Senior Vice President and Head of Branch Banking Group – Metro Manila Christian Jerome Dobles, First Vice-President and Head Branch Banking Group – VISMIN Antonio Baculi and First Vice-President and Head of Branch Banking Group – Luzon Edilberto S. Ramos.
The Issue Participants who were present were The Hongkong and Shanghai Banking Corporation Limited Senior Vice President and Head of Debt Capital Markets Corrie Purisima, ING Bank N.V., Manila Branch (ING Bank) Country Manager Consuelo Garcia, ING Bank Managing Director Hans Sicat, and ING Bank Managing Director and Head of Financial Markets Johnson Sia. #