PBCOM Lists Maiden PhP 2.90 Bilion LTNCTD Due 2024 on PDExPosted on: October 8, 2018
08 October 2018, Makati Philippines – Philippine Bank of Communications (PBCOM) debuted in the Philippine Dealing & Exchange Corp. (PDEx) secondary market to list its PhP 2.902730 Billion Long-Term Negotiable Certificate of Time Deposit (LTNCTD) due 2024.
This year is turning out to be great for PDEx’s Bank Issuer Community as PBCOM is now the 10th bank to tap the capital market for its funding needs.
PDEx President and COO Antonino A. Nakpil said: “This is positive as well for the capital market as we have another bank converting more short-term-oriented depositors into long-term investors, and all the while reinvigorating these clients’ brand loyalty through these instruments. We trust that this is a positive experience for PBCOM as well and look forward to its return to the podium for more issuances and listings.”
PBCOM President and CEO Patricia May T. Siy remarked: “We are awed by the overwhelming response to our offer amidst a very trying time for financial markets. To all our stakeholders, we are very grateful and owe nothing but our utmost commitment to continue and grow as a Bank in order to become better partners in achieving their goals and dreams. We also express our gratitude for this opportunity to be able to participate in the Philippine Dealing Exchange as an Issuer.”
This 19th listing for the year reaches a year-to-date level of PhP 144.09 Billion in new listings and the level of PhP 935.97 Billion in total outstanding face amount of listed bonds, up by 25% from the same period last year.
PBCOM Officers who also attended the event were SVP and Branch Sales and Distribution Head Delbert S. Ang IT, VP and Treasury Sales Group Head Enrico L. Macaisa and VP and Treasury-Asset Liability Management Head Cherry Ann Vanessa B. Kimpo. Representatives from the Issue Underwriters were ING Bank N.V. Manila Branch Managing Director-Corporate Clients and Financial Institutions Ma. Socorro R. Valdes, and Development Bank of the Philippines AVP and Head-Capital Markets Department Mishaal I. Toribio. #