BPI Debuts in the PDEx Organized Secondary Market with a Record PhP 12.2408 Billion Issuance of LTNCTDPosted on: November 24, 2017
24 November 2017, Makati Philippines – Bank of the Philippine Islands (BPI) rang the market opening bell to celebrate two milestones in the local debt market – BPI’s maiden listing in PDEx and the listing of the country’s largest single issuance to date of LTNCTDs worth PhP 12.2408 Billion.
BPI President and CEO Cezar Consing led the ringing of the listing bell to herald the start of trading of the first tranche out of its PhP 30 Billion LTNCTD approval from the Bangko Sentral ng Pilipinas.
“This is the largest issuance of LTNCTDs so far. And while it is the largest, I’m hoping it doesn’t stay the largest for long. Because we all want progress, we all want bigger issues to follow this. This is a very good sign for the Philippines and our economy,” he said.
PDS Group President and CEO Cesar Crisol remarked: “It is a privilege to welcome the oldest bank in the Philippines as the newest member of our Issuer community, Bank of the Philippine Islands. We do appreciate the constructive participation of BPI’s designates across all of the Market Governance Board’s committees, Dealers, Brokers, Listing, and Settlement, all ably demonstrating the institutional approach to “make the best happen” while working for the capital market.”
With this jumbo listing of BPI, the Ayala Group’s cumulative amount of securities listed on PDEx shall stand at PhP 159.64 Billion, increasing the year-to-date total volume of new listings to PHP 187.43, an 80% increase from the same period last year.
The event took place in the presence of Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala, BPI Senior Officers – President and CEO Cezar Consing, Treasurer and Global Markets Head Antonio Paner, and Issue Underwriters led by ING Bank N.V., Manila Branch Managing Director and Country Head Hans Sicat and BPI Capital Corporation Syndicate Head Luis Cruz. #