BDO Lists PhP 7.32 Billion LTNCTD on PDExPosted on: April 12, 2019
12 April 2019, Makati Philippines – BDO Unibank, Inc. returned to the local debt market second time around this year to list its PhP 7.32 Billion worth of Long-Term Negotiable Certificates of Time Deposit (LTNCTD) on the Philippine Dealing & Exchange Corp. (PDEx) bourse.
“As always, the Bank remains overwhelmed by the solid demand from both retail and institutional investors, which for us continue to underscore the full confidence of the investing public in our institution,” said BDO Unibank Senior Vice President Paola Magpale. “We are grateful for the unwavering support that translated to an oversubscription which allowed the Bank to upsize the issue amount. The issued LTNCDs have a tenor of 5 ½ years carrying a coupon of 5.375%.”
Out of the six listings this year, five have come from the banking sector with a total of PhP 83.04 Billion worth of debt instruments out of the PhP 83.82 Billion. The total outstanding amount of bonds listed on PDEx rises to PhP 1.115 Trillion and of that total, PhP 332 Billion or 29.8% are from financial institutions. BDO has PhP 69.82 Billion or a 21% share of the listed issues from financial institutions.
PDEx President and COO Antonino A. Nakpil said: “From these positive developments, we can now look to apply the streamlined processes in bank issuances toward the corporate bond sector as well. Work is ongoing to standardize investor forms with the ultimate aim of facilitating the IPOs of debt instruments.”
The listing ceremony was graced by Issue Underwriters led by Deutsche Bank AG, Manila Branch Chief Country Officer Enrico Cruz and BDO Private Bank, Inc. Executive Vice President Stella Cabalatungan. #