Local debt market welcomes newest Issuer, Cebu Holdings, Inc. and hits a record year for new listingsPosted on: June 9, 2014
Makati Philippines, 06 June 2014 – The Philippine Dealing & Exchange Corp. (PDEx) corporate securities market celebrated today two milestones – the entry of the newest member in the issuer community, Cebu Holdings, Inc. (CHI), and the achievement of a record year for new listings, hitting a total volume of PhP 114.8 billion.
With the listing of CHI’s PhP 5 billion bonds due 2021, the total amount of new listings already exceeded the listings in the banner year of 2012 and reached a total outstanding amount of corporate bonds listed of PhP 425.76 billion. This represents a compounded annual growth rate of 87% from 2008 up to today.
Cebu Holdings’ listed security, which carries a coupon rate of 5.32% per annum, represents CHI’s maiden debt issue and provides market investors with new issues on the platform, allowing them to enjoy real-time price information, increased market depth and liquidity, and market efficiency.
Cebu Holdings is an affiliate of Ayala Land, the issuer with the largest outstanding listed amount on PDEx. Following in the footsteps of its parent company, CHI is the premier developer in Cebu as manifested in its record of achievements. Its projects include the development of Cebu Business Park, the largest operating integrated, master planned, mixed-use IT Park in the country. Cebu Property Ventures and Development Corporation (CPVDC), a subsidiary of CHI, is the owner and developer of Cebu I.T. Park, home to over 70 percent of Cebu’s IT/BPO companies. These two projects comprise the Cebu Park District – the city’s premier lifestyle, leisure, and living destination. This assertive disposition adds plausibility to its 25-year theme: Fast, Forward, Faster, and further solidifies its reliability to shape more communities beneficial to its customers.
PDEx Chairman and CEO Cesar B. Crisol said: “With Cebu Holdings’ mantra of Fast-Forward-Faster, we at the PDS Group, assure you of Power-Dynamism-Speed. We will continue to cultivate this fertile ground to bring greater opportunities for issuer fundraising activities, both in terms of diversification and market reach. We will remain ever-engaged in endeavors that widen our community and fill our infrastructure with meaningful and relevant product solutions.”
For his part, CHI Director Emilio Tumbocon said, “Indeed, the success of this bond issue – in which we managed to raise not only the initial PhP3 billion, but the entire subscription amount of PhP5 billion is a confirmation of the confidence of the investing community and the public in general in the company and its vision. In the macro perspective, it also shows investors’ appetite for participation in the capital markets in the Philippines, as well as a resounding vote of confidence in the current positive economic environment.”
The event was attended by Ayala Land, Inc. Vice President and Treasurer Augusto Bengzon and Directors and Executives from CHI represented by Director Emilio Tumbocon, Director Antonio Abacan, Executive Vice President Aniceto Bisnar, and Vice President & CFO Enrique Manuel.
Also present were the Issue Participants, including BDO Capital Corporation President Dennis Montecillo, First Metro Investment Corporation Roberto Juanchito Dispo, and BDO Capital & Investment Corporation Noemi T. Villanueva. #