27 March 2020, Makati, Philippines — The Bank of the Philippine Islands (BPI) lists its PhP 33,895,900,000 Fixed Rate Bonds Due 2021 on the Philippine Dealing & Exchange Corp. (PDEx). The bonds were more than six times oversubscribed from its initial offer due to the robust demand from its investor base. This is BPI’s second fixed-rate bond issuance for the year.

“We thank our investors and clients who supported this bond offer despite the volatile market conditions caused by the COVID-19 situation. The issuance will help us deliver the financial services that our fellow Filipinos need during this difficult time,” said BPI Treasurer Dino Gasmen.

The Joint Lead Arrangers of the issuance are BPI Capital Corporation and ING Bank N.V., Manila Branch, with the former also acting as the Sole Selling Agent and the latter as a Participating Selling Agent.

This 13th listing for 2020 brings the year-to-date total of new listings to PhP 147.47 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 56 companies, comprised of 202 securities.

PDEx Press Release_BPI Fixed Rate Bonds

25 March 2020, Makati, Philippines — Integrated 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 12^th 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

17 March 2020, Makati, Philippines — Bank of Commerce (BankCom), an affiliate of San Miguel Corporation, lists its PhP 5.03 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTDs) Due 2025 on the Philippine Dealing & Exchange Corp. Proceeds from the issued LTNCTDs, which have a tenor of 5.5 years and quarterly coupons priced at 4.50%, will support BankCom’s business expansion plans.

The Sole Bookrunner of the issuance is Standard Chartered Bank. Philippine Commercial Capital, Inc. and Standard Chartered Bank were the Joint Lead Arrangers while Bank of Commerce and Standard Chartered Bank acted as Selling Agents.

This 11th listing for 2020 brings the year-to-date total of new listings to PhP 98.57 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 56 companies, comprised of 201 securities.

PDEx Press Release_BankCom LTNCTDs

10 March 2020, Makati, Philippines — San Miguel Food and Beverage, Inc. (SMFB), the food and beverage flagship of the San Miguel Corporation, debuts its PhP 15 billion 5-year and 7-year fixed rate bonds on the Philippine Dealing & Exchange Corp. (PDEx). With quarterly coupons pegged at 5.05% and 5.25%, respectively, proceeds will be used to redeem the outstanding
PhP 15 million perpetual preferred shares.

In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said: “What more can one say about SMFB, only the name is new, but the firm has a portfolio of well-established products with the market position, and brand loyalty of consumers across generations, to easily be described as iconic. Even in times such as now, when we are faced with the real prospects of self-quarantine and ‘lock-down’, your products are ready to serve our needs both nutritionally and recreationally, while at home; talk about diversification.”

“As we face a slew of challenges, both local and global, we take inspiration in corporations such as San Miguel, that have experienced and thrived through the up and down cycles, and know hurdles may be surpassed,” added Mr. Nakpil.

For his part, SMFB Vice President, Chief Finance Officer, and Chief Strategy Officer Ildefonso B. Alindogan remarked: “As a company, we remain positive about the years ahead. We will continue to expand the breadth of our product offerings and reinforce our presence in markets. We remain focused on delivering the best products to Filipinos, as well as providing growth and profits to all our stakeholders”.

This 10th listing for 2020 brings the year-to-date total of new listings to PhP 93.54 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 55 companies, comprised of 200 securities.

PDEx Press Release_SMFB Fixed Rate Bonds Due 2025 and 2027

24 February 2020, Makati, Philippines — Union Bank of the Philippines (“UnionBank” or “the Bank”) has successfully raised PhP 6.8 billion worth of Series A Unsecured Subordinated Notes Eligible as Tier 2 Capital (“Tier 2 Notes”), PhP 1.8 billion or 36% higher than its target issue size of PhP 5 billion.

In December 2019, The Bangko Sentral ng Pilipinas (“BSP”) approved the issuance of up to PhP 20 billion worth of Tier 2 Notes to be issued in tranches within a period of one year.

The Bank’s Tier 2 Notes have a tenor of 10.25 years, and will be callable in 5.25 years, starting May 24, 2025. The Tier 2 Notes will bear an interest rate of 5.25% per annum and will mature on May 24, 2030.

Standard Chartered Bank and The Hongkong and Shanghai Banking Corporation Limited acted as Joint Lead Arrangers, Bookrunners and Selling Agents for the issuance, alongside UnionBank who acted as the Limited Selling Agent. Asia United Bank Corporation will act as Market Maker for the Tier 2 Notes.

PDEx Press Release_UBP Series A Unsecured Subordinated Notes Due 2030 Callable in 2025

 21 February 2020, Makati, Philippines — East West Banking Corporation (EW) lists its maiden issue of PhP 3.7 billion fixed rate bonds under its PhP 10 Billion bank bond program on the Philippine Dealing & Exchange Corp. (PDEx).

The 3-year bonds were oversubscribed from EW’s initial offering of PhP 2 Billion and carry an interest rate of 4.500% per annum to be paid quarterly.

This 8^th listing for 2020 brings the year-to-date total of new listings to PhP 71.74 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 54 companies, comprised of 201 securities.

PDEx Press Release_EW Fixed Rate Bonds Due 2023

20 February 2020, Makati, Philippines — The local debt market welcomes Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corporation (TECH) with the debut issuance and listing of its PhP 2 Billion Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx).

In his welcome remarks, PDEx President & Chief Operating Officer Antonino A. Nakpil said: “It is also most fitting that Cirtek, a home-grown firm that has established itself in the international market, experiences the funding support available from the local, i.e. also home-grown, bond investors. Even to this day, the amount of investment demand continues to amaze, as in this month of February 2020 alone, our segment of the capital market will generate over PhP 460 Billion of funding for both government and private debt issues.”

“Events like these permit us to reaffirm our advocacy to expand the public debt market to reach more issuers and allow them the benefits of a direct relationship with their investors. And as has been experienced by most of our listed issuers, this is a relationship which when virtuously nurtured, becomes long term as first time issuers become returning issuers to a readily waiting pool of ‘loyal’ investors,” added Mr. Nakpil.

TECH Vice Chairman and President Jorge S. Aguilar remarked: “Cirtek is 35 years on going business with proven track records of impressive growth, strong management team, and annual dividend declaration to shareholders. With our rich business experience, Cirtek can weather economic slowdown recession and financial crisis. Our business is built on best quality practice, low overhead / hands on style and competitive price.”

The event was also graced by Sole Arranger and Lead Underwriter Multinational Investment Bancorporation Chief Operating Officer Dindo Caguiat, and Vice President Patricia Flores, and Trustee AB Capital and Investment Corporation Assistant Vice President Michael Yuson.

This 7th listing for 2020 brings the year-to-date total of new listings to PhP 68.04 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Billion issued by 54 companies, comprised of 200 securities.

PDEx Press Release_TECH Commercial Paper Series ABC

11 February 2020, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) lists its PhP 694 Million Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx). This still forms part of ACR’s PhP 1.5 Billion tranche under its PhP 2.5 Billion Commercial Paper Program.

This 6th issuance and listing for the year brings the year-to-date total of new listings to PhP 66.04 Billion and the total level of tradable corporate debt instruments to PhP 1.39 Trillion, issued by 53 companies, comprised of 197 securities. This also increases ACR’s total outstanding listed amount to PhP 1.4 Billion on PDEx.

PDEx Press Release_ACR Series J and K Commercial Paper

06 February 2020, Makati, Philippines — Philippine Dealing & Exchange Corp. (PDEx) warmly welcomes Arthaland Corporation (ALCO), which has established a track record for high quality and sustainability in all of its projects, for its maiden bond issuance and listing of a 5-year PhP 3.0 billion Fixed Rate ASEAN Green Bonds with quarterly coupons pegged at 6.3517% pa.
“The PDS Group takes inspiration from ALCO’s mantra of “building sustainable legacies”, as it has embarked on its own mission to streamline its operations by digitizing more of its processes and activities toward that “paperless” end goal,” said PDEx President & Chief Operating Officer Antonino A. Nakpil.

“And for an infrastructure provider like the PDS Group, digitization is the gateway to inclusion. This will be a community effort as we will work with stakeholders, Issuers, Underwriters, Selling Agents and Regulators to fulfill a vision of a digital ecosystem for fixed income instruments. To that end, we have seen some positive developments, and with luck, by the time ALCO returns for the balance of its SEC approved Shelf Registration, there would be much more fully paperless submissions from the Selling Agents to the Registry,” he added.
“World class quality and sustainability is at the heart of each ARTHALAND project,” said Jaime C. Gonzalez, ALCO’s Vice Chairman and President. “The proceeds from the offering allow us to continue to lead the green building charge as we plan to dramatically grow our portfolio of high quality, sustainable projects in key urban areas.”

With this 5th listing of the year, the level of new corporate securities listed on PDEx now stands at PhP 65.35 billion, and this brings the total outstanding listed corporate securities to PhP 1.39 trillion, a 5.0% increase from year end 2019.

PDEx Press Release_ALCO Green Bonds Due 2025

05 February 2020, Makati, Philippines — Security Bank Corporation (SECB) lists PhP 2.07 billion worth of Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2025, the third tranche of its approved PhP 20 billion LTNCTD issuance, on the Philippine Dealing & Exchange Corp. (PDEx).

PDEx President & Chief Operating Officer Antonino A. Nakpil said: “It is early in the listing year and the banking sector is continuing the trend of the past eighteen months by taking all four of the first listings. But we are encouraged by the fact that Issuer Banks have been the pilot testers of various PDS initiatives to streamline the listing and registration process, that is NoCD, FI-ATP 2019, digitized ATPs to name a few. Thank you for this support and we welcome all feedback to improve these services.”

On SECB’s part, Senior Vice President & Deputy Treasurer Orencio Andre P. Ibarra III remarked: “This LTNCTD issuance is part of the bank’s efforts to diversify its funding sources and to support future business expansion plans. We now live in an increasingly unpredictable and volatile world. Just last month, we saw the US – Iran conflict escalate, the eruption of Taal volcano and most recently the spread of the novel corona virus. It is just prudent that our bank continue to secure longer term funding to minimize any uncertainties related to these kinds of events.”

Today, the total new listings for the year stand at PhP 62.35 billion and the total level of debt instruments listed is now at PhP 1.38 trillion, composed of 194 securities, issued by 52 companies.
PDEx Press Release_SECB LTNCTD Due 2025_third tranche