PNB Lists its Maiden Issuance of Bonds on PDExPosted on: May 14, 2019
08 May 2019, Makati Philippines – Philippine National Bank (PSE: PNB), one of the country’s largest private universal banks in terms of assets and deposits, listed its maiden PhP 13.87- billion two-year fixed rate bonds with a coupon rate of 6.30% per annum on the Philippine Dealing & Exchange Corp. (PDEx).
To date, the total new listings in PDEx stand at PhP138.69 Billion and set the total outstanding amount of listed corporate debt instruments at PhP1.16 Trillion issued by 49 companies, comprised of 172 securities.
PDEx President and COO Antonino A. Nakpil said, “The bank issuance train is certainly running at full steam, and with this listing, within the fixed income market the financial sector now accounts for 30% of the total outstanding face amount of bonds listed, up from 24% at year-end 2018, and now well ahead of the property sector (the former top sector).”
PNB President and CEO Wick A. Veloso remarked, “PNB wants to give retail investors the opportunity to invest in a variety of new products that support our thrust for safe and aggressive growth.”
The listing ceremony was graced by PNB President and CEO Wick A. Veloso as well as PNB EVP, Head of Strategy and Financial Advisory Chester Luy; PNB SVP, Chief Dealer and Head of Trading Division Noel Malabag; PNB SVP, Treasury Sales and Distribution Division Head Ma. Lourdes Liwag; PNB SVP, Head of BBG – Metro Manila Edilberto Ramos; PNB SVP, Head of BBG – Luzon Antonio Baculi; PNB FVP, Head of BBG – Visayas & Mindanao Carlo Dimaala; and Standard Chartered Bank CEO Lynette Ortiz.