NLEX Corporation Lists PhP 6 Billion Seven-Year and Ten-Year Bonds on the PDEx BoursePosted on: July 4, 2018
04 July 2018, Makati Philippines – The local debt market opened the third quarter of 2018 with the listing of a returning Issuer, NLEX Corporation (NLEX), for its PhP 6 Billion Fixed Rate Bonds Series A Due 2025 and Series B Due 2028 – the initial tranche of the PhP 25 billion NLEX Bonds under the Shelf Registration Program approved by the Securities and Exchange Commission.
It was on March 2014 when NLEX Corporation, then Manila North Tollways Corporation, debuted in the PDEx bourse with its PhP 7 Billion Fixed Rate Bonds Due 2021 and 2024. The outstanding listed issues of NLEX Corporation now stand at PhP 13 Billion, increasing Metro Pacific Group’s total volume of listed bonds in PDEx to PhP 31.5 Billion.
With this 11th listing for the year, the year-to-date total of new listings grows to PhP 88.81 Billion, pushing the total level of tradable corporate debt instruments to PhP 880.98 Billion issued by 47 companies, comprised of 143 securities.
PDS Group President Cesar B. Crisol remarked: “We do hope to see more of NLEX and other Metro Pacific firms because of the natural fit that the bond market presents to developers and operators of the national infrastructure. We have launched the Enrollment program for admitting securities for distribution and trading limited to Qualified buyers and hope to populate that board with more infrastructure-related instruments from Issuers able to tap resources from the community of professional investors.”
For his part, NLEX Corporation President and CEO Rodrigo E. Franco stressed their intention of coming back to the local debt market on the latter part of the year to fund an infrastructure that they call a game changer, the PhP 16 Billion NLEX Connector Road, which will start its construction by early next year.
“We are pleased to offer to our public investors the opportunity not only to invest in safe and good-yielding public bond instruments but also to participate in financing transactions that contribute to nation building. That’s our modest contribution to the development of the capital market. We believe the time for infrastructure bonds has arrived and this issue is a testament of that,” Mr. Franco concluded.
The event was attended by Metro Pacific Tollways Corporation Senior Vice President/ Chief Finance Officer Christopher C. Lizo, NLEX Corporation Chief Finance Officer Maria Theresa O. Wells and the Issue Participants led by BDO Capital & Investment Corporation President Eduardo V. Francisco and First Metro Investment Corporation President Rabboni Francis B. Arjonillo. #