SM Prime Raises PHP 15 Billion Fixed Rate Bonds on PDEx


 SMPH Listing - 03.25.20



25 March 2020, Makati, PhilippinesIntegrated property developer SM Prime Holdings, Inc. (SMPH) lists its PhP 15 Billion 5-year and 7-year fixed rate bonds, the initial tranche of its
PhP 100 Billion bond shelf registration program approved by the Securities and Exchange Commission.

The bonds were priced at 4.8643% and 5.0583% per annum, respectively, with interests to be paid on a semi-annual basis. Proceeds from the retail bond offering will finance SMPH’s mall projects and other expansion plans.

The Joint Issue Managers of the issuance are BDO Capital & Investment Corporation and China Bank Capital Corporation. They also acted as Joint Lead Underwriters and Bookrunners together with BPI Capital Corporation, East West Banking Corporation, First Metro Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation.

This 12th listing for 2020 brings the year-to-date total of new listings to PhP 113.57 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 56 companies, comprised of 201 securities.

PDEx Press Release_SMPH Fixed Rate Bonds

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Revised Schedule of PDS Group Operational Hours

In line with the community-wide response to the current public health situation and the adjustments across the Philippine Financial Markets, please be advised that starting Tuesday, 17 March 2020, PDS Group operational hours shall be shortened as follows:

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Effective 17 March 2020

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RCBC Returns to the PDEx Bourse with the Listing of First Peso ASEAN Sustainability Bonds in the Philippines

RCBC Bonds Due 2021

04 June 2019, Makati Philippines – Rizal Commercial Banking Corporation (RCBC) returns to the PDEx organized market for the second time this year for its PhP 8 billion Fixed Rate ASEAN Sustainability Bonds Due 2021, the first peso bond issuance in the Philippines under RCBC’s recently established Sustainable Finance Framework.

This another pioneer issuance and listing of RCBC has itself sustained demand by bond investors as suggested by the oversubscription level of 1.6 times the planned issue amount of PhP 5 billion.

In his welcome remarks, PDEx President and COO Antonino A. Nakpil said: “We note that this issuance was made under RCBC’s recently established Sustainable Finance Framework, and this is the first bond issue from the Philippines aligned with the ASEAN Sustainability Bond Standards 2018, as well as the International Capital Market Association’s (ICMA) Sustainability Bonds Guidelines 2018. Most importantly, the bond complies with the SEC’s own Guidelines for the Issuance of Sustainability Bonds just released last 25 April 2019, kudos indeed to RCBC for this quick response to the SEC’s challenge for financial institutions to channel financing toward projects that meet environmental and social needs.”

RCBC Senior Executive Vice President and Treasurer Horacio E. Cebrero III remarked: “We are proud of these sustainable issuances as it demonstrates not just the Bank’s but also the investors’ commitment to the evolving efforts to uphold social and environmental responsibility in all business activities. We are likewise proud of the pioneering effort the Bank has introduced through sustainable financing options. It has enabled RCBC to expand engagement with various existing and potential stakeholders by opening up opportunities for new investors and lenders to participate in the Bank’s transition to a more sustainable future, and by supporting the focus of regulators in key priority projects such as the development of capital markets, innovations and financial inclusion.”

Today’s listing brings the year-to date total of new listings to PhP 162.49, a 102% increase from same period last year. The total volume of bank issues listed on PDEx now stands at PhP 359.08 Billion, increasing the total level of tradable corporate debt instruments to PhP 1.174 Trillion, issued by 49 companies with 174 securities.

The ceremony was held at the PDS Group Assembly Hall and was also graced by RCBC Deputy CEO Eugene S. Acevedo and ING Bank N.V., Manila Branch Managing Director Johnson Sia.

Press Release – RCBC Fixed Rate ASEAN Sustainability Bonds Due 2021

UnionBank Returns to the PDEx Organized Secondary Market with its Second Bond Issuance

UBP Series B Fixed Rate Bonds Due 2022_2

03 June 2019, Makati Philippines – Union Bank of the Philippines (UnionBank) returned to the PDEx organized secondary market for the listing of its 3-year PhP 5.8 billion second bond issuance. This followed UnionBank’s maiden issuance of PhP 11 billion in December 2018.

UnionBank President and CEO Edwin Bautista led the ringing of the ceremonial bell to herald the start of trading of the UnionBank Bonds Due 2022.

Today’s listing brings the year-to-date volume of new listings to PHP 154.5 Billion and the total corporate tradable debt instruments listed or enrolled at PDEx to PHP 1.166 Trillion, an 11% increase from year end 2018.

Philippine Dealing & Exchange Corp. President and COO Antonino Nakpil remarked: “We note that this second bond issuance of Union Bank was oversubscribed and upsized from the initial size of PHP 3 Billion. We trust that this would clearly dispel any notion that Union Bank’s support from its bondholders is virtual.”

“As we have said previously, we are keen observers of Union Bank’s progress as it leads its peer banks in exploring the bounds and applications of the new financial technologies in banking and payment systems, the so-called digital transformation. We monitor these developments with the belief that all advances in the payments space will apply to and cascade into the area of settlement systems and ultimately have the potential to reshape the market frameworks as we know them today,” Mr. Nakpil added.

For UnionBank’s part, Senior Executive Vice President, Treasurer and Chief Financial Officer Jose Emmanuel Hilado said: “UBP is happy to list the 3-Year P 5.8 B Peso Corporate Bond which was upsized from the original P 3 B issue amount. This will be an on-going program for the Bank due to the regulatory incentive of having a lower reserve requirement at 6% versus the usual 17%. This also provides local investors with an alternative investment product that can be traded in the secondary market.”

Other key executives present during the listing ceremony include UnionBank Financial Controller Francis Albalate and Deputy Treasurer Raquel Palang. Lead Arrangers and Bookrunners led by The Hongkong and Shanghai Banking Corporation Limited Head of Wholesale Banking Michael Brennan, Senior Vice President and Head of Global Markets Dondi Baltazar and ING Bank N.V., Manila Branch Diversified Corporates Director Rowena P. Bayoneta and Financial Markets Sales Director Jessica Chico were also in attendance. #

Press Release – UBP Series B Fixed Rate Bonds Due 2022

SM Prime Lists its PHP 10 Billion Fixed Rate Bonds on PDEx

SMPH Series J Fixed Rate Bonds Due 2022_

17 May 2019, Makati Philippines – SM Prime Holdings, Inc. (SMPH), one of the largest property developers in Southeast Asia, returned to the PDEx organized secondary market to list its PhP 10 Billion 3-Year Series J Fixed Rate Bonds, the final tranche of its Shelf Registered Bond Program of PHP 60 Billion approved by the SEC in 2016.

Today, SM Prime’s total outstanding listed issues stand at PHP 100 Billion or 9% of the total outstanding listed bonds on PDEx, and bring the SM Group’s total outstanding listed amount to PHP 243.34 Billion or 21% of the total PHP 1.17 Trillion outstanding listed corporate securities on PDEx.

PDEx President and COO Antonino Nakpil remarked: “The scheduled returns to the debt market by SM Prime and its peers within the Issuer community are continuing reaffirmations of the depth of the domestic investor market and the value of establishing a loyal base of bondholders. These leaderships by the veteran issuers such as SMPH are key highlights to be made to any would-be corporate bond issuer of fixed income, as we strive to expand the community toward a multiple of the current 49 listed corporate bond issuers.”

SM Prime Chief Finance Officer John Ong said in his message: “The net proceeds of the issue will help finance our capital expenditure program for the construction of new malls; expansion and redevelopment of existing malls and new office projects for the period 2019-2021.”

“At this point, allow me to reiterate SM Prime’s commitment of being a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. Ending 2018, SM Prime has 72 malls in the Philippines offering 9.5 million square meters (sqm) of gross floor area (GFA) and seven malls in China with 1.3 million sqm of GF,” he added.

The event was graced by SM Prime CFO John C. Ong, SM Investments Corporation Treasurer Marcelo Fernando, Jr., BDO Capital & Investment Corporation President Eduardo Francisco, First Metro Investment Corporation President Rabonni Arjonillo, China Bank Capital Corporation President Ryan Tapia, China Banking Corporation CFO Patrick Cheng, BPI Capital Corporation President Rhoda Huang, and Bank of the Philippine Islands Corporate Products and Support Head Reggie Cariaso. #

Press Release SMPH Series J Bonds Due 2022

PNB Lists its Maiden Issuance of Bonds on PDEx

PNB Bonds Due 2021

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.

Press Release_PNB Bonds Due 2021

Ayala Land, Inc. Lists PHP 8 Billion Fixed Rate Bonds Due 2026 on PDEx

ALI P8B Bonds Due 2026_

06 May 2019, Makati City – The property powerhouse, Ayala Land Inc. (ALI), listed the initial tranche of its PhP 50 billion SEC-registered shelf program, the PhP 8 billion 7-Year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx) platform.

This ninth listing for the year brings the year-to-date total of new listings to PhP 124.82 billion and the total level of tradable corporate debt instruments to PhP 1.142 trillion issued by 49 companies, comprised of 171 securities.

PDEx President & COO Antonino A. Nakpil said: “Indeed, a listing year would not be complete without at least one issuance and listing from the most prolific Issuer of our Community. And we are pleased to see ALI continue to show the way for other would be corporate Issuers on how to strategically utilize the fixed income market to support its capital expenditures for various projects.”

ALI Chief Finance Officer, Chief Compliance Officer & Treasurer Augusto D. Bengzon remarked: “Today we are listing our PhP 8 Billion 7-year bond, the initial tranche of our second PhP 50 Billion shelf registration. Having fully deployed last October our initial PhP 50 Billion shelf, the company returned to the SEC this year as the first corporate to re-register for a fresh shelf. And with the SEC’s approval, Ayala Land is now assured of access to the debt capital markets for its funding requirements for the next three years.”

“This newly approved shelf registration is a testament to the success of the shelf registration rules introduced by the SEC. The shelf registration has greatly enhanced Ayala Land’s access to the debt capital markets by affording us the advantage of speed to market. In our experience, issuing from a shelf has allowed us to cut by one full month the time needed to bring an issue to market. And it is this ability to access the market in a timely and efficient manner that has allowed Ayala Land to secure optimal issue sizing and pricing” Mr. Bengzon added.

Also in attendance are representatives from the issuer, joint lead underwriters and joint bookrunners, including ALI Debt Management Head Ricardo Ulysses Tabije IV, BPI Capital Corporation Managing Director Francis Bonoan, BDO Capital & Investment Corporation First Vice President Jose Eduardo Quimpo II, China Bank Capital Corporation Directors Michael Chong and Grace Chua, First Metro Investment Corporation Executive Vice President Daniel Camacho and Senior Vice President Lalaine De Guzman, PNB Capital and Investment Corporation Senior Vice President Victor Abad and SB Capital Investment Corporation Co-Head and Managing Director Virgilio Chua. #

Press Release – ALI P8B Fixed Rate Bonds Due 2026