Rizal Commercial Banking Corporation Lists the Fifth Series of its Green, Social, & Sustainability Bonds on PDEx

RCB 02.21.2022

RCB 02.21.2022

21 February 2022, Makati, Philippines — Rizal Commercial Banking Corporation (RCBC) returned to the local debt market today for the listing of its fifth Green, Social & Sustainability bonds (GSSB) on PDEx. The PHP 14.75626 Billion bonds carry an interest rate of 3.00% per annum to be paid quarterly.

PDEx President and Chief Executive Officer Antonino A. Nakpil opened the listing ceremony and remarked: “This is indeed a great start of the year for GSSB issuances and listings, as we now have PHP 67.46 Billion new issuances from just two bank issuers. And even better is that this sustainable bond has been well received by investors to the point of being 4.9 times oversubscribed from the original size of PHP 3.0 Billion.”

SEC Commissioner Hon. Ephyro Luis B. Amatong also graced the event and delivered a special message. “The strong demand for RCBC’s Fixed Rate ASEAN Sustainability Bonds shows investors continuing interest and support for ASEAN labelled Green, Social & Sustainability bonds, consistent with previous sustainability bonds issued by RCBC.”, said Hon. Amatong.

“Having regularly issue green and sustainability bonds since 2019, RCBC’s status as a true pioneer has placed it ahead of the curve and allowed it to take advantage of the opportunities arising from the continued growth and innovation in sustainable finance.”, added Hon. Amatong.

Meanwhile, RCBC President and CEO Eugene S. Acevedo mentioned: “Despite the challenges brought about by the threat of Omicron, and a crowded domestic bond market, our institutional and retail investors have once again demonstrated their trust in RCBC as reflected in the strong momentum of the transaction.”

This 4th listing for 2022 brings the year-to-date total of new listings to PHP 109.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 53 companies, comprising of 193 securities.

PDEx Press Release_RCBC ASEAN Sustainability Bonds

SM Investments Corporation Lists PHP 15 Billion Fixed Rate Bonds on PDEx

SMIC 02.18.2022

SMIC Listing Ceremony 02.18.2022

18 February 2022, Makati, Philippines — Today SM Investments Corporation (SMIC) returned to the local debt market for the listing of its PHP 15 Billion series I and J three (3) and five (5) year Fixed Rate Bonds. The bonds hold an interest rate of 3.5915% and 4.7713%, respectively, to be paid semi-annually.

PDEx President and Chief Executive Officer Antonino A. Nakpil said: “The timing of these business pre-positioning activities from the banking arm and holding company of one of the Philippines’ significant conglomerates could not be more serendipitous especially as we edge ever closer to Alert Level 1. These signs of preparation imply real expectations of revived activity in lending and finance and now consumer spending are clear indicators of an economic engine revving back to life and most positive indeed.”

Meanwhile, SMIC Executive Vice President and Treasurer Erwin G Pato remarked: “We were pleasantly surprised by the turnout which is a strong testament to investor confidence in our credit quality and growth prospects.”

“We are grateful that the local debt market has received our issuances with strong interest amid these pandemic times”, added Mr. Pato.

This 3rd listing for 2022 brings the year-to-date total of new listings to PHP 94.7 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 53 companies, comprising of 192 securities.

PDEx Press Release_SMIC Fixed Rate Bonds

BPI Raises PHP 27 Billion Fixed Rate Bonds on PDEx

Press Release Tower Photo_BPI

BPI 01.31.2021

31 January 2022, Makati, Philippines — A day before welcoming the Lunar New Year, the Bank of the Philippine Islands (BPI) listed their PHP 27 Billion Fixed Rate Bonds Due 2024, the fourth tranche of their PHP 100 Billion Bond Program on the Philippine Dealing & Exchange Corp. (PDEx). The bonds hond an interest rate of 2.8068% per annum, a number considered to be lucky for this Lunar New Year, to be paid quarterly. The bonds were more than 5 times oversubscribed from the initial offer of PHP 5 Billion due to strong investor demand.

“We note that proceeds from this bond offer shall be utilized for BPI’s digitalization efforts and we are happy that BPI has for this issuance used the electronic-Securities Issue Portal and thank it and the whole Ayala Group for its active support for this paper-reducing initiative. This will be significant especially in this segment of bank issuers which have the natural capacity to convert more and newer investors through both digital and branch networks.”, said PDEx President and CEO Antonino A. Nakpil.

Meanwhile, BPI Chairman Jaime Agusto Zobel de Ayala highlighted BPI’s digitalization initiatives. “The funds raised will undoubtedly assist us in making our goal of financial inclusion a reality for more and more of our fellow Filipinos. In the past two years, we have seen a surge in our digital transactions. Digitalization has, indeed, become an important tool for offering financial services as more people use our digital channels”

BPI President and CEO Jose Teodoro K. Limcaoco also gave special thanks to investors who trusted BPI for this issuance. “With overwhelming support from retail and institutional investors, we have raised more than five times our initial target of PHP 5 Billion. This is testimony to our investors’ recognition of BPI’s excellent creditworthiness, as well as their support for our plans and prospects as we build a better Philippines. We appreciate their continued trust.”

“Amid the continuing volatility in our markets and the challenges of the pandemic, we will continue to soldier on and pursue our strategic initiatives—digitalization, excellent customer service, and sustainability,” added Mr. Limcaoco.

This 2nd listing for 2022 brings the year-to-date total of new listings to PHP 79.7 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.36 Trillion issued by 53 companies, comprising of 190 securities.

PDEx Press Release_BPI Fixed Rate Bonds

PDEx Welcomes 2022 with BDO Unibank, Inc.’s Listing of PHP 52.7 Billion Asean Sustainability Bonds

BDO 01.28.2022_

BDO 01.28.2022 v2

28 January 2022, Makati, Philippines — BDO Unibank, Inc. (BDO) returns to the local debt market today for the listing of its PHP 52.7 Billion Series 3 Tranche 1 ASEAN Sustainability Bonds with an interest rate of 2.9000% per annum to be rewarded quarterly. This record-breaking listing was oversubscribed from the initial PHP 5 Billion offer size, beating the previous record of PHP 40.1 Billion, coincidentally also held by BDO.
Today’s listing ceremony began with PDEx President and CEO Antonino A. Nakpil delivering his welcome remarks. “Today’s issuance is a signal, a signal by the banking industry leader that it is marshalling its resources, fueling up if you will, to rev up the engines that will power economic recovery.”, said Mr. Nakpil.

The listing ceremony was also delighted with the presence of SEC Commissioner, Hon. Ephyro Luis B. Amatong. He remarked: “Today’s listing marks a true milestone in our debt capital markets being not only the first ESG issuance from a Philippine Corporate in 2022, not only the largest ESG out of the Philippines to date, but indeed the largest ever corporate fixed income issuance in the history of PDEx so far.”

“As disclosed by BDO, the net proceeds from these sustainability bonds will be used to finance or refinance eligible green and social projects in renewable energy, green buildings, clean transportation, resource efficiency and pollution prevention and control, environmentally sustainable management of living natural resources and land use, sustainable water and wastewater management, employment generation, and food security.”, added Hon. Amatong.

Hon. Amatong‘s remarks were followed shortly by a few words from Standard Chartered Bank CEO Lynette V. Ortiz. She said: “A remarkable way to kickstart the year, paving the path for further development of the sustainable finance landscape and the deepening of the Philippine capital markets. This certainly also sends a strong message that the country’s number 1 Bank has been and will continue to prioritize green, social and sustainable projects.”

BDO President and CEO Nestor V. Tan also expressed his appreciation for the outcome of this issuance. He said: “Let me say the most important thing about this issue, and that is: thank you and congratulations.”

“This issuance is a testament to BDO’s commitment to sustainability. And needless to say, it means that we have PHP 52.7 Billion more of funds that we can use to support sustainability assets and projects.”, Mr. Tan further expressed.

This 1st listing of PHP 52.7 Billion for 2022, brings the total level of tradable corporate debt instruments to PHP 1.33 Trillion issued by 53 companies, comprised of 189 securities.

PDEx Press Release_BDO ASEAN Sustainability Bonds

PDEx Welcomes the Local Debt Market’s Newest Issuer, AREIT, Inc.

Press Release Tower Photo_AREIT

AREIT 12.28.2021_

28 December 2021, Makati, Philippines — Exactly 3 days before the end of 2021, AREIT, Inc. (AREIT), the country’s first Real Estate Investment Trust, joined their Ayala Group siblings by entering the local debt market. Notably, AREIT is once again the first REIT in the Philippines to list a bond issued to public investors. AREIT joined the PDEx issuer community with the entry of its maiden listing of PHP 3 Billion Fixed Rate Bonds Due 2023. The bond carries a coupon rate of 3.0445% to be paid quarterly.

In his welcome remarks, PDEx President and CEO commended AREIT for their maiden equity and bond listings as he said: “What an inaugural that was, bringing in over 28,000 investors, and providing the template for inclusive investing in the equity markets that led the way for the slew of REITs that followed.”

“Of course, we are not surprised by AREIT’s pioneering ways given that it is the progeny of Ayala Land Inc., which has a well-established penchant for collecting its own share of firsts in the fixed income market. One might add a pioneering penchant well shared by Ayala Corp., BPI, and other Group mates.”, added Mr. Nakpil.

SEC Commissioner Ephyro Luis B. Amatong was also in attendance and delivered a special message. “Approximately 5.5x oversubscribed, AREIT’s bonds also reflect the continued strong demand from investors, particularly from retail investors who accounted for 58% or roughly PHP 1.75 Billion of the total issuance.”

“Today’s listing is also an indicator of the progress of our capital markets, particularly the corporate bond market. As the first by any REIT, this bond issuance also provided a precedent setting opportunity for the SEC, working with AREIT and its deal team (particularly its accountants and lawyers), to clarify the interpretation and computation of the Aggregate Leverage Limit provided for in the REIT Act and its Implementing Rules and Regulations. Hence,
AREIT’s bond listing today also provides a guide and model for others to follow.”, said Hon. Commissioner Amatong.

Last to deliver her message was AREIT Director, President & CEO Carol T. Mills. She said: “Today marks a milestone as we celebrate another first for Philippine REITs – the first bond offering in the sector – demonstrating how the debt capital market can enable REITs to deliver yield accretion.”

This 23rd listing for 2021 brings the year-to-date total of new listings to PHP 213.45 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.30 Trillion issued by 54 companies, comprised of 191 securities.

PDEx Press Release_AREIT Fixed Rate Bonds

SL Agritech Corporation Lists Php 1.866 Billion Commercial Paper on PDEx

Press Release Tower Photo_SLAC

SLAC 12.22.2021

22 December 2021, Makati, Philippines — SL Agritech Corporation (SLAC) returns to the local debt market today with the listing of its PHP 1.866 Billion Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx). This marks the SL Agritech’s 7th listing since their inaugural listing back in 2016. The Series O Commercial Paper Due December 21, 2022 was set at a discounted rate of 4.25%.

PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “Return visits by SL Agritech to the podium are always special because of how they remind us in PDS why we are in the capital market development area of activity. And that is to assist and support firms such as SL Agritech to continue to do the important work toward self-sufficiency of our national staple and at the same time provide sustainable economic empowerment to the thousands of rice farming families whose futures have been transformed with SL Agritech’s innovations on hybrid rice.”

For his part, SLAC Chairman, President, and CEO Henry Lim Bon Liong remarked: “Surely, this Short-Term Commercial Paper will help SL Agritech Corporation to fuel its growth plans. I would like to thank our investors and stakeholders for putting their trust in us and in SL Agritech Corporation. Rest assured that we will continue our advocacy to assist our Filipino farmers and help the government to achieve “rice sufficiency” by providing high-yielding hybrid rice seeds and good-tasting quality rice.

We, at SL Agritech Corporation are preparing to be prepared. Demand for food, especially rice, is inelastic and will not be affected by any catastrophe, pandemic or any other natural or man-made calamities.”, added Mr. Lim Bon Liong.

This 22nd listing for 2021 brings the year-to-date total of new listings to PHP 210.45 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.30 Trillion issued by 53 companies, comprised of 190 securities.

PDEx Press Release_SLAC Commercial Paper

Filinvest Land, Inc. Raises PHP 10 Billion 4-Year and 6-Year Bonds on PDEx

Press Release Tower Photo_FLI

FLI 12.21.2021

21 December 2021, Makati, Philippines — Filinvest Land, Inc. (FLI), a leading real estate developer in the Philippines returns to the Philippine Dealing and Exchange Corp (PDEx) today for the listing of its PHP 10 Billion 4-year and 6-year Fixed Rate Bonds. This issuance and listing is the second tranche of their 30 billion bond program which they registered in 2020.

PDEx President and CEO Antonino A. Nakpil in his welcome remarks congratulated FLI for good investor demand. He said: “Today’s listing keeps intact the trend of oversubscribed issuances by our community of Issuers, evidencing continued demand by public investors ready to support the funding requirements of firms as the economy progresses toward re-opening.”

The Securities and Exchange Commission Chairman Emilio B. Aquino was also in attendance and delivered a special message. “The SEC is glad to see FLI returning to the bond market for another listing. We are also happy to see that the company’s consistent record over its long history as well as its credit standing with the banking community and the bond markets have resulted in increased investor confidence and the expansion of the Philippine housing and land development market.”, remarked Hon. Aquino.

Meanwhile, FLI President and CEO Josephine Gotianun-Yap was grateful towards their beloved investors. She expressed: “We are thankful for the continued trust of our investors that drove the demand for the FLI bonds which resulted to an oversubscription of over four times of the base amount of PHP 8 Billion, a remarkable feat during this challenging time.”

This 21st listing for 2021 brings the year-to-date total of new listings to PHP 208.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.29 Trillion issued by 53 companies, comprised of 189 securities.

PDEx Press Release_FLI Fixed Rate Bonds

Aboitiz Power Corporation Return to PDEx with its PHP 12 Billion Second Tranche Bonds

AP

AP_12.02.2021

02 December 2021, Makati, Philippines — Aboitiz Power Corporation (AP) lists the second tranche of its PHP 30 Billion debt securities program. For this tranche, it was noted that AP also decided to utilize the e-Securities Issue Portal (e-SIP), and in turn saved thousands of paper, living up to their principles of sustainability.

Their PHP 12 Billion worth of 4-year and 7-year bonds carry a coupon rate of 3.9992% and 5.0283% p.a., respectively, to be paid quarterly.

In his welcome remarks, PDEx President and CEO Antonino A. Nakpil said: “It is gratifying to see the debt capital market supporting power-generating companies such as AP, that is, never-pausing front-line firms operating through what would now be 20 months of a health crisis, providing the key resource of the WFH economy, energy.”

“Once again APC is showing the way on how to transition from the carbon-based toward the more climate-friendly carbon-neutral technologies.”, added Mr. Nakpil.

Meanwhile, AP First Vice President – Chief Financial Officer, Power Generation Group Racquel Bustamante remarked: “This deal allows AboitizPower to bolster its capital by refinancing maturing debt and replacing existing premium-cost debt. It also allows the company to partially fund equity contributions to renewable energy projects. This helps AboitizPower in achieving its goal of growing its Cleanergy portfolio by 3-fold to 4,600 MW to achieve a 50:50 balance between our renewable energy and thermal capacities over the next decade.”

This 20th listing for 2021 brings the year-to-date total of new listings to PHP 198.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 Trillion issued by 53 companies, comprised of 190 securities.

PDEx Press Release_AP Second Tranche Bonds

SM Prime Holdings, Inc. Lists PHP 10 Billion Fixed Rate Bonds on PDEx

SMPH 11.15.2021 PR

SMPH 11.15.2021

15 November 2021, Makati, Philippines — Today marks another listing event for SM Prime Holdings, Inc. (SMPH) at the Philippine Dealing & Exchange Corp. (PDEx). SMPH listed its Series O Fixed Rate Bonds amounting to PHP 10 Billion, with interest rates set at 5.0994% due on 2028. This issuance is the third tranche of debt securities to be issued from SM Prime’s PHP100 billion Debt Securities Program registered with the Securities and Exchange Commission (the “SEC”) under shelf registration pursuant to SEC MSRD Order No. 6 Series of 2020.

PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “We note that all the proceeds for this listing will go to capital expenditures to fund new malls, mall expansions, and projects scheduled for completion mostly in 2022 and 2023, indicating SMPH’s preparation for the re-opening of the economy and this is an important signal from one of the most seasoned Issuers.”

For his part, SMPH Chief Finance Officer John C. Ong remarked: “The challenges brought about by the COVID-19 pandemic condition taught us so many lessons in life and in business that further strengthened our commitments to our stakeholders. We were pushed to go beyond what we can do for our people and for our nation, while continuously delivering sustainable developments that are set to drive growth for the benefit of millions of Filipino people.”

This 19th listing for 2021 brings the year-to-date total of new listings to PHP 186.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 Trillion issued by 53 companies, comprised of 191 securities.

PDEx Press Release_SMPH Series O Fixed Rate Bonds Due 2028

Alsons Consolidated Resources, Inc. Lists PHP 600 Million Commercial Paper on PDEx

ACR

ACR 11.12.2021

12 November 2021, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) returns to the Philippine Dealing & Exchange Corp. (PDEx) after four (4) months to list their PHP 600 Million worth of Commercial Paper (CP), the second tranche of its PHP 3 Billion CP Program. The ACR Series Q CP was set at a discount rate of 3.75%.

PDEx President and CEO Antonino A. Nakpil was delighted to see familiar faces and as he welcomed ACR back. “Today is incidentally the closing date of the UN’s Climate Change Conference or COP26 and from it emanated a resounding theme of energy transition for developing economies. The same theme is reverberating through global capital markets with sustainable finance and fintech initiatives for ESG monitoring and reporting also resonating through the Singapore Fintech Festival this week. These make the timing of this second CP tranche listing and its supported project all the more auspicious.”, said Mr. Nakpil.

This 18th listing for 2021 brings the year-to-date total of new listings to PHP 176.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 Trillion issued by 54 companies, comprised of 192 securities.

PDEx Press Release_ACR Series Q Commercial Paper