RCBC Lists PHP 17.87257 Billion ASEAN Sustainability Bonds on PDEx

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31 March 2021, Makati, Philippines — Rizal Commercial Banking Corporation (RCBC) returns to the local debt market today with the listing of its PHP 17.87257 Billion 2.5 years and 5.25 years Series C and D ASEAN Sustainability Bonds at 3.20% and 4.18% per annum, to be paid quarterly in arrears.

RCBC was the first to issue and list the first peso-denominated ASEAN Sustainability Bond issued in the Philippines in compliance with the SEC’s guidelines and the ASEAN Sustainability Bond Standard last June 2019. They were likewise awarded for this through a Special Citation for the PDS Annual Awards the following year.

PDEx President and CEO Antonino A. Nakpil commended RCBC for their efforts in his message and said: “The key insight driving us to be energetic evangelists of ESG principles, is that we pursue this not for immediate economic gain, but because it is the right thing to do and the benefits from GSS compliant financing are for the next generations.”

Meanwhile, RCBC President and CEO Eugene S. Acevedo remarked: “Despite the challenging market environment, our issuance had robust momentum, enabling us to raise an aggregate amount of 17.87257 Billion pesos. The overwhelming demand we received allowed us to reach our target on the first day of the offer and we closed the books at 5.9 times more than our initial announced minimum size of 3 Billion,” as he expressed his gratitude towards the success of the issuance.

Standard Chartered Bank CEO Lynette V. Ortiz also congratulated RCBC for this sustainability listing. “Despite the challenges with the volatility and quarantine measures, we are pleased to have helped deliver a very successful transaction. More than ever, it is crucial that we ensure sustainable and economic development to our business, operations, and communities,” said Ms. Ortiz.

This 5th listing for 2021 brings the year-to-date total of new listings to PHP 59.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.45 Trillion issued by 53 companies, comprised of 204 securities.

PDEx Press Release_RCBC ASEAN Sustainability Bonds

Aboitiz Power Corporation Raises 8 Billion Fixed Rate Bonds on PDEx

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16 March 2021, Makati, Philippines — Aboitiz Power Corporation (AP) lists its PHP 8 Billion 5-year Bonds on the Philippine Dealing & Exchange Corp. (PDEx). This issuance is the first tranche of AP’s PHP 30 Billion Fixed Rate Bond Program and was well met by investors as it exceeded its base size of PHP 4 Billion. The bond carries an interest rate of 3.8224% per annum to be paid quarterly in arrears.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil recognized AP’s Battery Energy Storage Systems project and acknowledged AP for having been a longtime leader in their field. “As I recall, AP was leading in this field so early, it was already winning awards globally even before the Green, Sustainable and Social Bond Standards were formalized by the ASEAN Capital Markets Forum regionally and our SEC locally. So it is good to see that it is maintaining the lead in this area with projects in the area of Battery Energy Storage Systems, which are the natural complement to the intermittent supply inherent in renewable energy sources.”, said Mr. Nakpil.

In November 2020, AboitizPower announced its foray into battery technology with the TMI Hybrid BESS project located in Maco, Compostela Valley, which is to commence commercial operations in 2022.

Meanwhile, AP Chief Financial Officer, Liza Luv Montelibano explained the importance of this deal for AP. Ms. Montelibano stated “This deal is particularly important to us because it allows Aboitiz Power to bolster its capital by refinancing maturing debt and replacing existing premium cost debt. This helps Aboitiz Power in achieving its goals in addressing our country’s energy needs, helping drive economic growth, and creating meaningful social and environmental impact towards a brighter and more sustainable future.”

She also thanked the Securities and Exchange Commission for their efforts stating, “This deal would not have materialized if it were not for the Securities and Exchange commission whose support and flexibility enabled us and our partners to adapt to our continuously changing market environment.”

This 4th listing for 2021 brings the year-to-date total of new listings to PHP 41.37 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.44 Trillion issued by 54 companies, comprised of 204 securities.

PDEx Press Release_AP First Tranche Fixed Rate Bonds Due 2026

Century Properties Group, Inc Returns to PDEx with PHP 3 Billion Fixed Rate Bonds

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01 March 2021, Makati, Philippines — Century Properties Group, Inc. (CPG) listed its PHP 3 Billion 3-year Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bond carries an interest rate of 4.8467% per annum to be paid quarterly. The issuance exceeded its original size of PHP 2 Billion due to strong investor demand.

This is CPG’s third listing since their maiden issuance back in 2014.

PDEx President and Chief Executive Officer Antonino A. Nakpil, in his welcome remarks acknowledged CPG’s efforts and success throughout the pandemic. “It is good to see that CPG has hurdled past the trials of 2020, especially seeing how the real estate industry was hard hit by the effects of the public health-induced economic crisis. We note that CPG has faced the challenges as a good corporate citizen with efforts in relief operations for victims of Typhoon Ulysses and transforming the Philippine Sports Stadium in Bulacan into a mega-testing facility,” said Mr. Nakpil.

On the other hand, CPG President and Chief Executive Officer, Mr. Jose Marco R. Antonio is forging ahead with its plans to create new-generation real estate. “There is no denying that the business environment continues to be challenged by the effects of the coronavirus pandemic, but we have all forged ahead in our common goal to drive business activity, provide livelihood for our people, and help rebuild our economy. The learning experiences of 2020 have only strengthened CPG’s resolve to move forward, and to do so by creating New Generation Real Estate that is responsive to the needs of the times,” according to Mr. Antonio.

“Along with business resilience and growth, CPG has also made sustainability and innovation as part of our core guiding principles, to ensure that we consciously build a better company and contribute to a better future for our country,” added Mr. Antonio as he spoke about CPG’s initiatives to help the country towards recovery.

This 3rd listing for 2021 brings the year-to-date total of new listings to PHP 33.37 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.44 Trillion issued by 54 companies, comprised of 204 securities.

PDEx Press Release_CPG Fixed Rate 3-Year Bonds Due 2024

China Banking Corporation Lists 20 Billion Series 2 Tranche 1 Bonds on PDEx

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CHIB PR photo v2

18 February 2021, Makati, Philippines — China Banking Corporation (CHIB) returns to the local debt market today with the listing of its PHP 20 Billion 3-year Series 2 Tranche 1 Bonds at 2.50% per annum, to be paid monthly.

China Banking Corporation is one of the pioneers in the Philippine banking industry, having been present since 1920. 100 years and many branches later, CHIB continually innovated and kept its standards high, giving quality service to its clients.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil congratulated CHIB for their most recent recognitions. “We are happy to see that China Bank has started 2021 and its next century with a bang, so to speak, earning top-performing recognitions from the ASEAN Capital Market Forum’s ASEAN Corporate Governance Scorecards (ACGS) Awards, notably as one of the Top Three Publicly-Listed Companies in the Philippines, and within ASEAN as among the Top 20 Publicly Listed Companies in the region,” said Mr. Nakpil.

Meanwhile, China Bank President William C. Whang happily informed everyone of the great demand for this bond issue. “I’m pleased to note that today’s bond issue was met with overwhelming demand. Four times oversubscribed, we upsized the offer to PHP 20 Billion from PHP 5 Billion, reflecting investors’ confidence in China Bank’s strong fundamentals and growth potential amidst very challenging times,” noted Mr. Whang.

This 2nd listing for 2021 brings the year-to-date total of new listings to PHP 30 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.46 Trillion issued by 55 companies, comprised of 206 securities.

PDEx Press Release_CHIB Series 2 Tranche 1 Bonds