15 November 2019, Makati, Philippines — ORIX METRO Leasing and Finance Corporation (OMLF) joined the community of PDEx listed companies as the 51st issuer with its maiden PHP 4.16 Billion 2-Year Bond listing. Maturing in 2021 and paying 4.55% p.a. quarterly, this issuance is the first tranche of its PHP 10 billion bond program.

“We are happy to note that this issue is more than twice oversubscribed from the original PHP 2 Billion planned, a positive sign of investor support and metric of success for an issuance. Through your company’s specialized area of lending, offering finance lease and mortgage loans for trucks and various types of equipment, especially in the countryside, it may easily be said that ORIX keeps the wheels of small and medium industries moving,” said PDEx President & COO Antonino A. Nakpil .

On his part, OMLF President Constancio Tan remarked: “The issuance is a milestone in our 42-year track record in the leasing and finance industry — a testament to our company’s strength and innovation that contributed to our sustained growth and profitability over the years.”

This 36th issuance hikes the year-to-date total of new listings on PDEx to PHP 350.70 Billion; and the total tradable corporate debt instruments listed on PDEx to PHP 1.3 Trillion.

PDEx Press Release_OMLF Bonds Due 2021

14 November 2019, Makati, Philippines — In the second tranche of its PHP 10 billion corporate bonds program, Robinsons Bank Corporation (RBANK) raised another PHP 5 billion fixed rate bonds due 2021 on the Philippine Dealing & Exchange Corp. (PDEx).

“Fresh from its bond market debut three months ago, we are glad to see Robinsons Bank again today on its PHP 5 billion Fixed Rate Bonds Due 2021. Like the first tranche, this second tranche follows the same pattern, and was oversubscribed from the originally planned issue size of PHP 2.5 billion,” said PDEx President & COO Antonino A. Nakpil.

For his part, RBANK President Elfren Sarte remarked: “On the second tranche of the Bank’s bond issuance, we are deeply honored by the trust and confidence of the investing public that made this bond issuance 4.3x oversubscribed.”

With quarterly coupons at 4.30% per annum, this 35th listing for 2019 increases the total volume of new listings to PHP 346.54 Billion, and brings the year-to-date total of outstanding listed bonds to PHP 1.3 Trillion.

PDEx Press Release_RBANK Fixed Rate Bonds Due 2021

13 November 2019, Makati, Philippines — The Rizal Commercial Banking Corporation (RCB) listed PHP 7.5 billion of Fixed Rate Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx) to further asset growth and build up liquidity. This tranche, more than twice oversubscribed from its original issue size of PHP 2 billion, has a 4.426% quarterly coupon.

“This 34th listing for 2019 brings the total new listings for 2019 to PHP 341.54 billion, or 33.20% higher than the 2018 year-end figure of PHP 256.40 and hikes the total volume of Bank Issues to PHP 497.01 Billion, or 38% of the total outstanding listed bonds of PHP 1.29 Trillion. These are record figures that are the result of a collective effort of our regulators, issuers, intermediaries, and investors, which the PDS Group infrastructure is privileged to catalyze,” said PDEx President & COO Antonino Nakpil.

“This issuance marks the third time the Bank has tapped the peso bond market. In July 2019, our Board of Directors approved the increase in the Bond Program to PHP100 billion as part of our strategic liquidity management. In February, we issued PHP15 billion of the ASEAN Green Bonds, and followed that with our PHP8 billion Sustainability Bond Offering in June. As of today, we have raised a total of PHP 30.5 billion—a testament to the confidence of the market in the credit quality of the Bank,” said RCBC Senior Executive Vice President and Treasurer Horacio E. Cebrero III.

“The success of our offering would not have been possible without the tremendous support from our investors. Our issuance had strong momentum in the market, allowing us to reach our target on the first day of the public offer period alone. The overwhelming demand we received enabled us to raise a total of PHP 7.5b billion, 2x more than what we initially aimed to raise,” he added.

PDEx Press Release_RCB Fixed Rate Bonds Due 2022

11 November 2019, Makati, Philippines — The Development Bank of the Philippines (DBP) listed PHP18.125 billion in the Philippine Dealing & Exchange Corp. (PDEx) in its maiden issuance of 2-year ASEAN Sustainability Bonds due 2021, paying 4.25% p.a. in quarterly coupons.
“We are pleased to welcome the DBP for its first ever listing for this PHP 18.125 billion, 2-year bond, and delighted to highlight that this bond emanates from DBP’s ASEAN Sustainability Bond Program, which we understand is a “first” of its own as a Program; aiming to provide financing and/or refinancing of specified “green,” “social,” or “sustainability” projects of up to PHP 50 billion. And we note that even this late in the year the investor appetite was not hampered to take in this new issue. The amount of PHP 18.125 billion raised, more than three times the original issue of PHP 5 billion, is a very positive response to DBP’s maiden ASEAN sustainability bond issuance as well as a good indicator of its clients’ trust and confidence in the bank,” said PDEx President and COO Antonino A. Nakpil.

DBP President and Chief Executive Officer Emmanuel G. Herbosa further underscored the significance of the initiative: “This is a historic milestone for DBP as this is the first ever listing of the Bank in PDEx. With the listing of the DBP ASEAN Sustainability Bonds, our Bank has made another significant stride towards the achievement of our mandate which is to be a catalyst of development for the Filipinos . . . to support and spearhead projects in line with the sustainable development goals of the country.”

DBP Chairman Alberto G. Romulo also remarked expressed gratitude and thanks, on behalf of DBP, to all parties involved in making the transaction possible.

The 2-year DBP ASEAN Sustainability Bonds Due 2021 is the 33rd listing for 2019 that brings the year-to-date total of new listings in PDEx to PHP 334.04 billion, which hikes the total level of tradable corporate debt instruments to PHP 1.28 trillion comprising of 186 securities issued by 50 companies.

PDEx Press Release DBP Series A ASEAN Sustainability Bonds Due 2021

07 November 2019, Makati, Philippines — Asia United Bank Corporation (AUB) debuts PHP 7 billion 3-year fixed rate bonds, the first tranche of its PHP 30 billion bond program, on the Philippine Dealing & Exchange Corp. (PDEx). The issuance was warmly received by the market, as the PHP 7 billion is more than twice the originally planned PHP 3 billion offer. With quarterly coupons pegged at 4.625%, the proceeds will be used towards general corporate purposes.

“This occasion of AUB’s maiden listing has a confluence of “firsts” that we can celebrate. While the listing activity for debt has been moving at a record pace this year, it is only now at the eleventh month at Listing number 32, that we have the chance to fete AUB as the First New Issuer for 2019, “ said PDEx President and COO Nino Nakpil. “A more significant first for this listing is this is the first listing of a bank bond covered by the Guidelines for Listing/Enrollment of Bonds issued via Bank Bond Issuance Programs, which became effective only yesterday, November 6.”

“The third of AUB’s firsts today, is in my opinion the most significant, as they are the first Issuer to have made available an electronic system for clients to fill up and sign so-called Application to Purchase or “ATP” Forms through an electronic device,” added Mr. Nakpil.

On the part of the AUB, its President Manuel Gomez said that “today not only formally marks a milestone for AUB with our maiden 3-year fixed rate bonds issuance and listing. For us, with the overwhelming demand, this day is a reminder of the continuous support we receive from our clients and the public.”

This 32nd listing for 2019 brings the year-to-date total of new listings to PHP 315.92 billion, pushing the total level of tradable corporate debt instruments to PHP 1.27 trillion issued by 49 companies, comprised of 187 securities.

PDEx Press Release_AUB Fixed Rate Bonds Due 2022_approved

 

25 October 2019, Makati Philippines — The Bank of the Philippine Islands (BPI) listed over PHP 3 Billion worth of Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2025 on the Philippine Dealing & Exchange Corp. (PDEx). With quarterly coupons priced at 4%, the issue’s proceeds will support the Bank’s business expansion plans, and diversify its funding sources.

“We are pleased to welcome the Bank of the Philippine Islands back for the listing of this over PHP 3 Billion LTNCTD on the organized market. This is, auspiciously, listing number thirty (30) for the year, breaking last year’s record of twenty-nine listings in one year,” said PDEx President and COO Antonino Nakpil.

About this issue, BPI President and CEO Cezar P. Consing remarked that “this capital raise will help finance the growth of a loan book that, with every passing quarter, becomes a bit more green, a bit more sustainable.”

The sole arranger and participating selling agent of these BPI LTNCTDs was the Hongkong and Shanghai Banking Corp. Limited and BPI Capital Corporation acted as the sole selling agent.

PDEx Press Release_BPI LTNCTD Due 2025

14 October 2019, Makati Philippines — Aboitiz Power Corporation (AboitizPower) listed its PHP 7.25 billion 7-year Series D Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). This third tranche of its PHP 30 billion debt securities program is pegged to issue quarterly interest payments at 5.2757% per annum.

The issuance “enables AboitizPower to fund its growth aspirations, while simultaneously providing debt investors with an opportunity to take part in a growth story they believe in. This endeavor gives us the opportunity to further our brand promise of advancing business and communities,” said AboitizPower Chief Financial Officer Liza Luv Montelibano.

PDEx’s 28th listing nudges the total amount of corporate securities listed to PHP 1.24 trillion, which is 19% higher than year end of 2018. “For the year-to-date figure, we are at PHP 282.05 billion today, and from listing date reservations, look to breach PHP 300 billion within November,” said PDEx President and COO Antonino Nakpil.

PDEx Press Release_AP Series D Fixed Rate Bonds Due 2026

11 October 2019, Makati, Philippines — Philippine National Bank (PNB) raised PHP 4.6 billion with its 5.5-year Long-Term Negotiable Certificates of Time Deposit (LTNCTDs) on the Philippine Dealing & Exchange Corp. (PDEx), more than twice the PHP 2 billion initial offer. Maturing in 2025, the LTNCTDs carry a 4.375% interest rate payable quarterly; and proceeds will be used for business expansion and funding diversification.

“This second tranche puts our total LTNCTD issuance for the year to PHP 12.82 billion. It brings the aggregate new PDEx listing for the year to PHP 26.70 billion,” said PNB Executive Vice President, Chief Financial Officer & Head of Financial Management Sector Nelson Reyes.

For PDEx’s part, President and COO Antonino Nakpil said: “The market expects PNB to stay true to its course of growth. This is a similar trajectory for PDEx as well. With this 27th listing, the total amount of new listings is now pegged at PHP 274.80 billion, a 91% increase from same period last year, and this already surpassed 2018’s record of new listings.”

PDEx Press Release_PNB LTNCTD Due 2025

04 October 2019, Makati Philippines — San Miguel Corporation (SMC) listed PHP 10 billion 5-year fixed rate bonds on PDEx, the fourth and final tranche of its PHP 60 billion fixed rate bonds shelf registration program. Proceeds of this issue, with an interest rate of 5.55% paid quarterly, will be used to redeem a preferred share issue, and re-finance loan obligations.

“The funds we have raised through the bond offerings have supported our corporate goals and plans to push for further growth of the company,” said San Miguel Corporation Senior Vice President and Treasury Head Sergio G. Edeza.

“SMC issuances have traditionally been characterized by strong investor appetite and support, given the depth and breadth of its businesses, and its history of stability and innovation, all of which have positioned it to be a significant contributor to the national economy. This is a position that is similar to its own participation within PDEx with its total of PHP 70 Billion of bonds listed and enrolled accounting for 6% of PDEx’s total outstanding listings,” said PDEx President and COO Antonino Nakpil.

PDEX’s 26th listing for this year hikes the total amount of new listings to PHP 270.20 billion, a 103% increase from the same period last year.

PDEx Press Release_SMC Series H Bonds Due 2024