Vista Land Caps Corporate Bond Listings on PDEx with its PhP 10 Billion Fixed Rate Bonds Due 2023 and 2025Posted on: December 21, 2018
21 December 2018, Makati Philippines – The listing of Vista Land’s (VLL) PhP 10 Billion five-year and seven-year bonds capped the corporate bond issuances in the Philippine Dealing & Exchange Corp. (PDEx) for 2018. This brings the total face amount of new bonds listed to a record of PhP 249.39 Billion, a 20% increase year-on-year.
The VLL Bonds Due 2023 and 2025 form part of the second tranche of Vista Land’s original approved PhP 20 Billion shelf registration, which started at an initial amount of PhP 5 Billion and rose to twice its size to PhP 10 Billion.
Vista Land President and CEO Paolo Villar said: “The continued development of the capital market is of critical importance to our country and of course to companies like Vista Land, we do appreciate the efforts being exerted by the PDS Group leadership to make the market environment more attractive and investor friendly.”
This 28th listing for the year increases the total outstanding amount of bonds listed on PDEx to PhP 1.04 Trillion issued by 50 companies comprised of 162 securities.
PDS Group OIC Ma. Theresa B. Ravalo remarked: “As we look back at 2018, this year has really been the year of investors. As a segment they have established their consistency of demand regardless of how difficult the conditions have been in the fixed income secondary market, accounting for 63% of the traded volume in this fixed income market.”
Ms. Ravalo also highlighted the Group’s effort to sustain the momentum for fixed income issuances into next year by leveraging on the experience and expertise of Bloomberg as a platform in the fixed income market. “We have already initiated discussions on various instrument types that the Bloomberg pricing engine can accommodate. We look forward to the launch of one or two of these structures within the early part of 2019,” said Ms. Ravalo.
The event was graced by Vista Land Officers and Directors including Chairman Manuel B. Villar, Jr., Director Camille A. Villar, Senior Officer of MB Villar Company Jerry M. Navarrete, Chief Operating Officer Cynthia J. Javarez and Chief Financial Officer, Brian N. Edang. The Issue Participants were also present including China Bank Capital Corporation Ryan Martin L. Tapia, China Banking Corporation President William Whang, Multinational Investment Bancorporation Chairman and President Marilou C. Cristobal, and Credit Rating and Investors Services Philippines, Inc. President Emmanuel A. Leyco. #