AboitizPower Lists PhP 9.55 Billion Fixed Rate Bonds in PDEx

Aboitiz

Aboitiz

6 July 2020, Makati, Philippines — Aboitiz Power Corporation (AP) lists its PHP 9 Billion Series Dealing & Exchange Corp. (PDEx). This is the fourth and last tranche of its PHP 30 billion debt securities program, and is pegged to issue quarterly interest payments at 3.125% and 3.935%, respectively. Proceeds from the bond offering will be used to fund the company’s baseload capacity initiatives for the country’s energy needs.

In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome AboitizPower back to list this PHP 9.55 Billion issuance and last tranche of its PHP 30 Billion Shelf-Registered Bond Program. This is the third virtual listing ceremony on PDEx, and it is great to see AboitizPower able to achieve its funding from the community and thereby reaffirm its standing among public investors.”

Commissioner Kelvin Lester K. Lee of the Securities and Exchange Commission was also present in the listing ceremony, and congratulated AP and PDEx on today’s successful issuance notwithstanding the current global health crisis.

“The fact that we are able to still meet today, virtually, and have this launch attests to the resilience and adaptability of not only the PDS Group, but also to the perseverance and bravery of the people at AboitizPower and those who made this happen. And for that, I congratulate you all for making this launch possible, and for pushing through with these Bonds, despite the current worldwide economic outlook,” stated Mr. Lee.

AP Chief Financial Officer Liza Luv T. Montelibano also shared a few words on behalf of the issuer.

“The road to this ceremony has not been sparse with challenges, given the backdrop of the global pandemic and its consequential market uncertainties. The fact that we are all gathered today in a virtual platform is extraordinary,” said Ms. Montelibano.

“The success of this deal supports AboitizPower’s long-term aspirations, while providing investors with an opportunity to take part in a growth story they believe in, with a company they can trust,” added Ms. Montelibano.

This 18th listing for 2020 brings the year-to-date total of new listings to PhP 221.05 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 56 companies, comprising 201 securities.

PDEx Press Release_AP Fixed Rate Bonds

BDO Lists PhP 36 Billion Fixed Rate Bonds on PDEx

BDO Listing_07.03.20

BDO

3 July 2020, Makati, Philippines BDO Unibank, Inc. (BDO) lists its PHP 36 billion Series 2 Tranche 1 Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The bonds were seven (7) times oversubscribed from the original offer size of Php 5 billion, on robust demand from individual and institutional investors. The bonds were exclusively offered through BDO Trust & Investments Group and BDO Private Bank’s Wealth Advisory & Trust Group.

The Bonds have a tenor of 1.75 years and a coupon rate of 3.125%, with interest to be paid on a quarterly basis. The latest bond issuance is part of BDO’s continuing efforts to diversify its funding sources and support its lending activities.

The Sole Lead Arranger and Market Marker of the issuance is Standard Chartered Bank, with BDO and BDO Private Bank, Inc. acting as the Selling Agents.

This 17th listing for 2020 brings the year-to-date total of new listings to PHP 211.50 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.45 Trillion issued by 56 companies, comprised of 199 securities.

PDEx Press Release_BDO Series 2 Tranche 1 Bonds Due 2022

Ayala Land, Inc. Pioneers Virtual Listing Ceremony on PDEx with its PhP 10 Billion Fixed Rate Bonds

ALI Listing Thunbnail- 06.26.20

ALI Listing Thunbnail 2- 06.26.20

26 June 2020, Makati, Philippines — Leading property developer Ayala Land, Inc. (ALI) sets another milestone in the debt market with the listing of its PHP 10 Billion Fixed Rate Bonds Due 2022, making it the first issuer to hold a virtual listing ceremony on the Philippine Dealing & Exchange Corp. (PDEx).

The issuance was warmly received by the market, as the PHP 10 billion was oversubscribed 1.75 times its original size. The 2-year bonds have quarterly coupons priced at 3.00% per annum, which proceeds will be used to partially finance ALI’s general corporate requirements and/or for such specific purposes as may be determined from time to time including, but not limited to, various residential development, estate development, commercial leasing, land acquisitions, and other investments.

PDEx President & COO Antonino A. Nakpil opened the event by welcoming the guests in the virtual ceremony and the first listing ceremony held in the local bourse months after the country was placed in quarantine.

“We are delighted to welcome you to this first ever remote listing on the Fixed Income Market, and it is no less than our pioneer Issuer on both the Public Listed Board and the Qualified Enrolled Board, Ayala Land, Inc., to pilot this virtual version of listing ceremonies with this PHP 10 Billion 2-year Fixed Rate Bond issue. Kudos to ALI for adding another ‘first’ to its string of firsts in the debt market,” remarked Mr. Nakpil.

Commissioner Ephyro Luis B. Amatong of the Securities and Exchange Commission was also present in the event, and mentioned how ALI’s strategic financial stance bore fruit in today’s successful issuance in spite of the current market conditions.

“ALI’s previous commitment to establishing itself in the bond market, regular communication with investors and attention to its credit rating, has also made it easier for it to pursue this approach,” said Commissioner Amatong.

For his part, ALI President and CEO Bernard Vincent O. Dy shared the rationale behind this bold move from the real estate powerhouse, especially during this challenging time of a global health crisis.

“We are pleased with the reception for our two-year bond issuance. Our primary objective during the last three months is to ensure that we preserve value for the company until this crisis blows over. It was therefore imperative that we ensure that we have more than adequate liquidity to meet our obligations and also ensure that we manage our cost of funding to a reasonable level during this period,” said Mr. Dy.

“We are confident that as the economy continues to reopen, business will continue to pick up and hope to resume our expansion program within the next few months,” added Mr. Dy.

This 16th listing for 2020 brings the year-to-date total of new listings to PHP 175.50 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 56 companies, comprised of 198 securities.

PDEx Press Release_ALI Fixed Rate Bonds

Metrobank Lists PhP 10.5 Billion Series C Bonds on PDEx

MBT Listing_06.24.2020

 

24 June 2020, Makati, Philippines — Metropolitan Bank & Trust Company (MBT) lists its PHP 10,500,000,000 Series C Bonds Due 2021 on the Philippine Dealing & Exchange Corp. (PDEx). The bonds were priced at 3.00% per annum, with interest to be paid on a quarterly basis for a tenor of 1.25 years.

Proceeds from MBT’s sixth issuance under its PhP 100 Billion bonds and commercial paper program will be used to diversify funding sources and finance lending projects for corporate, middle market, small and medium enterprises, and retail clients.

The Market Makers of the issuance are ING Bank N.V., Manila Branch and Standard Chartered Bank (SCB). They also acted as Arrangers and Selling Agents, together with First Metro Investment Corporation.

This 15th listing for 2020 brings the year-to-date total of new listings to PHP 165.50 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.41 Trillion issued by 56 companies, comprised of 197 securities.

PDEx Press Release_MBT Series C Bonds

RCB Lists PhP 7.05 Billion Series A Fixed Rate Bonds on PDEx

RCB Listing - 04.06.2020

7 April 2020, Makati, Philippines Rizal Commercial Banking Corporation (RCB) lists its PHP 7,054,300,000 Series A Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The 2-year bonds were oversubscribed from RCB’s initial offering of PhP 3 Billion and carry an interest rate of 4.848% per annum to be paid quarterly.

Proceeds from RCB’s fourth issuance under its PhP 100 Billion bond and commercial paper program will be used to support its asset growth, re-finance maturing liabilities, and fund other general purposes.

The Hongkong and Shanghai Banking Corporation Limited (HSBC) acted as the Sole Lead Arranger and Bookrunner, with RCBC Capital as the Financial Advisor for this Bond issuance. The Selling Agents for the Bonds are HSBC and RCB.

This 14th listing for 2020 brings the year-to-date total of new listings to PhP 154.72 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.43 Trillion issued by 56 companies, comprised of 203 securities.

PDEx Press Release_RCB Series A Bonds

 

BPI Lists Over PhP 33 Billion of Fixed Rate Bonds on PDEx

BPI Fixed Rate Bonds - 03.27.20

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

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

BankCom Lists PhP 5.03 Billion LTNCTDs on PDEx

BankCom Listing 03.17.20

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

SMFB Debuts PhP 15 Billion Fixed Rate Bonds on PDEx

SMFB listing 03.10.2020

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

 

UnionBank Lists PhP 6.8 Billion Notes on PDEx

IMG_20200224_085859

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