SL Agritech Corporation Lists PhP 1.57 Billion Commercial Paper on PDEx

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18 December 2020, Makati, Philippines — SL Agritech Corporation (SLAC) lists PHP 1.57 Billion Commercial Paper on Philippine Dealing & Exchange Corp. (PDEx). The SLAC Series M and Series N Commercial Paper were pegged at a discount rate of 4.2500% and 4.7500%, respectively.

PDEx President and CEO Antonino A. Nakpil remarked, “This is now SL Agritech’s sixth listing on PDEx and it is a pleasure to see it become a consistent returnee, if you will, to the public debt market.”

“Each return of the Lim family is for us is a reminder of the PDS Group’s mission in the Philippine financial market, that is, especially help home-grown Issuers like SL Agritech enjoy the benefits of the funding support of its loyal investors, and in turn powering it to continue improving the lives of the many farmers and families that benefit from its products,” added Mr. Nakpil.

For his part, SLAC Chairman, President, and CEO Henry Lim Bon Liong said, “With the increase in demand for our seeds and rice, most of the proceed of this Short Term Commercial paper will be used to help farmers grossly affected by the recent development, to shift to hybrid rice seed technology. It will help us expand our production capability and our market reach.”

This 36th listing for 2020 brings the year-to-date total of new listings to PHP 387.83 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 57 companies, comprised of 207 securities.
PDEx Press Release_SLAC Commercial Paper

Development Bank of the Philippines Returns to Local Debt Market with PHP 21 Billion Fixed Rate Bonds on PDEx

DBP Tower Photo

DBP Photo

11 December 2020, Makati, Philippines — The Development Bank of the Philippines (DBP) returns to the local debt market with the listing of its PHP 21 Billion 2-year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). With a 2.500% discount rate per annum, this issue’s proceeds will fund various development projects in priority sectors of DBP.
DBP is a state-owned development banking institution committed to providing financial services to critical industries and sectors, including infrastructure and logistics, social services, small and medium enterprises, and the environment.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil congratulated DBP for the successful bond issuance that was more than four times oversubscribed its original offer size. He also expounded how this issuance may help the country recover from the crisis brought about by the COVID-19 pandemic.

“While not specifically tagged as a Sustainability Bond per se, we understand that the DBP Bond proceeds may nonetheless be used to fund primarily green projects, exercised to support various social projects, affordable basic infrastructure and houses, access to essential services, employment generation, food security, and socioeconomic advancement and empowerment. All indeed much needed especially in the coming year as the country looks to emerge from the public health crisis and now making DBP primed and ready to support the government’s national recovery plan,” said Mr. Nakpil.

In his message, DBP President and Chief Executive Officer Emmanuel G. Herbosa stressed how the pandemic has further highlighted DBP’s mandate of serving the country through sustainable growth and development initiatives.

“The pandemic has taught us that we are bigger than any challenges. We in DBP will continue to turn setbacks into opportunities to further advance our development mandate. We have become more unrelenting about making a positive difference with the well-being of every Filipino in mind,” said Mr. Herbosa.

DBP Chairman Alberto G. Romulo also shared a few words, highlighting DBP’s plans for the next year.

“As we all know, DBP’s post-pandemic interventions will continue on a heightened track. We are ready with a slew of innovative programs that are supportive of socioeconomic recovery and expansion, as well as of new investments to further stimulate commercial activity. We plan to channel more resources to further promote an environment ripe for development intervention in hard-to-reach segments and areas,” said Mr. Romulo.

This 35th listing for 2020 brings the year-to-date total of new listings to PHP 386.25 Billion, surpassing 2019’s record high of PHP 375.61 Billion. This pushes the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprised of 207 securities.

PDEx Press Release_DBP Fixed Rate Series 2 Bonds

Union Bank of the Philippines Raises PHP 9 Billion Fixed Rate Bonds on PDEx

Press Release Tower Photo

Press Release Photo

09 December 2020, Makati, Philippines — Union Bank of the Philippines (UBP) lists its PHP 9 Billion 3-year and 5.25-year Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry an interest rate of 2.750% and 3.375% per annum, respectively, to be paid quarterly. The issuance exceeded its original size of PHP 3 billion backed by strong investor demand.

A trailblazer in the digital banking and financial technology scene, UBP is one of the largest universal banks in the Philippines and tenth largest bank in the country largely-owned by Aboitiz Equity Ventures, Inc.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil congratulated UBP and Standard Chartered Bank (SCB) for successfully listing the first scripless bond issue mirrored in tokenized form. He also highlighted the numerous awards and recognition UBP received this year for its digital banking initiatives.

For his message, UBP Senior Executive Vice President, Chief Financial Officer, and Treasurer Jose Emmanuel U. Hilado highlighted the other notable milestones of the issuance, as it is UBP’s first dual-tranche bank issuance, the first five-year bond issuance under the peso corporate bond guidelines of the Bangko Sentral ng Pilipinas, and the first time an online platform was used to subscribe to a UBP bond. He ended his speech by thanking the issue participants who brought this issuance to fruition.

The Hongkong and Shanghai Banking Corporation Limited and SCB are the Joint Lead Arrangers and Bookrunners on the transaction. They are also the Selling Agents for the offering together with UBP.

This 34th listing for 2020 brings the year-to-date total of new listings to PHP 365.25 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.46 Trillion issued by 56 companies, comprised of 206 securities.

PDEx Press Release_UBP Bonds Due 2023 and 2026

Filinvest Land, Inc. Returns to PDEx with PHP 8.1 Billion Fixed Rate Bonds

FLi Press Release Tower Photo

FLi Press Release Photo

18 November 2020, Makati, Philippines — Filinvest Land, Inc. (FLI) returns to the local debt market today with the listing of its PHP 8.1 Billion 3-Year and 5.5-Year Fixed Rate Bonds at the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry an interest rate of 3.3353% and 4.1838% per annum, respectively, to be paid quarterly.

Today’s issuance marks the seventh return of FLI to the local debt market. A leading real estate developer with over 50 years of experience, FLI will use proceeds from the issuance to finance FLI’s maturing debt and fund its capital expenditures and general corporate requirements.

In his welcome remarks, PDEx President and CEO Antonino A. Nakpil noted the positive market reception for the bonds as FLI was able to exercise a portion of its over-allotment option. He further said that, “This is certainly a good metric of bondholders’ trust and confidence in FLI’s securities and brand. And this trust is even more valuable as firms look to maintain public issuances as a viable alternative funding source, especially during times like today’s pandemic-stressed economic environment.”

On the other hand, FLI President and CEO Lourdes Josephine Gotianun-Yap shared the company’s growth since its last return to the local debt market. She also thanked its investor base for the robust demand for the FLI bonds despite the current health crisis.

“It has been 5 years since FLI’s last bond issuance. In the past 5 years, FLI has transformed from mainly a residential developer of mass market affordable and middle-income housing to a well-diversified real estate company growing its recurring income business significantly, especially in office development,” said Ms. Yap.

“We have tapped the long-term bond market to match our funding source with our project horizons. We are thankful for the continued trust of our investors that drove the demand for the FLI Bonds, which resulted in an oversubscription of P1.35 billion over the base amount of P6.75 billion, a remarkable feat during this challenging time of the pandemic,” added Ms. Yap.

This 33rd listing for 2020 brings the year-to-date total of new listings to PHP 356.25 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 56 companies, comprised of 207 securities.

PDEx Press Release_FLI Fixed Rate Bonds

Landbank Raises PHP 5 Billion Fixed Rate ASEAN Sustainability Bonds on PDEx

LBP Press Release Tower Photo

LBP Press Release

17 November 2020, Makati, Philippines — Land Bank of the Philippines (LANDBANK) returns to the local debt market today with the maiden listing of its PHP 5 Billion Fixed Rate ASEAN Sustainability Bonds at the Philippine Dealing & Exchange Corp. (PDEx). The 2-year bond carries an interest rate of 2.5872% per annum to be paid quarterly.

Proceeds of the issuance will be used to finance LANDBANK’s various green projects for climate change mitigation and adaptation, as well as social projects for basic infrastructure and employment opportunity purposes.

PDEx President and CEO Antonino A. Nakpil mentioned in his welcome remarks the timely issuance of the bonds, given that it came just a few days after the succession of typhoons in the country. He also congratulated the bank for being recognized for its climate financing and digital banking initiatives.

“We understand that congratulations are also in order for LANDBANK for being recognized in the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) Development Awards 2020 for its Green Climate Fund (GCF) Program, as well as its and Digital Onboarding System (DOBS),” mentioned Mr. Nakpil.

In her speech, LANDBANK President and CEO Cecilia C. Borromeo thanked their investors for the strong demand for Sustainability Bonds despite the current market conditions in light of the COVID-19 pandemic.

“We are also grateful to our investors for the overwhelming reception as we raised PHP 5 Billion from the initial PHP 3 Billion issue size. The offering was oversubscribed by more than five times with total bids reaching PHP 16.6 Billion on the very first day of our offer period. Amidst the backdrop of a recovering economic environment, we are pleased with the strong investor confidence in the Bank’s stable financial position,” said Ms. Borromeo.

This 32nd listing for 2020 brings the year-to-date total of new listings to PHP 348.15 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 56 companies, comprised of 205 securities.

PDEx Press Release_LBP Series A Bonds

Aboitiz Equity Ventures, Inc. Lists PHP 7.55 Billion Fixed Rate Bonds on PDEx

AEV Press Release Tower Photo

AEV Press Release Photo

16 November 2020, Makati, Philippines — A returning issuer, Aboitiz Equity Ventures, Inc. (AEV), listed its PHP 7.55 Billion 3-year and 5-year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry an interest rate of 2.8403% and 3.3059% per annum, respectively, to be paid quarterly.
Guided by its corporate philosophy of good corporate governance and sustainable business practices, AEV has been providing services in five major industries in the country for more than 100 years.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil lauded AEV’s well laid-out and thoughtful sustainability framework that focuses on three P’s: People, Planet, Profit.

“AEV has been progressing with this corporate philosophy for years, notably evidenced by its power subsidiary’s green bond global accolades and commitment to ‘Cleanergy’ and its banking subsidiary Union Bank’s leadership in digital financial technologies. Today’s Issuer, ‘walks the walk’, so to speak,” remarked Mr. Nakpil.

AEV Chief Financial Officer Manuel R. Lozano shared the proceed utilization of the issuance, which will partially finance AEV’s equity contributions to Apo Agua, a Davao-based water infrastructure company that aims to provide over 300 million liters of potable water daily to over 1 million Davao City residents.

“This is a direct contribution to the United Nations sustainable development goal number 6 of ensuring access to clean drinking water and sanitation for all. It will also be one of our building blocks in the execution of our ESG strategy for the next decade,” said Mr. Lozano.

“Apo Agua’s existence revolves around the need to take good care of the environment to ensure the sustainability of our water supply, and this bond offering is a show of support for this need,” added Mr. Lozano.

This 31st listing for 2020 brings the year-to-date total of new listings to PHP 343.15 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.46 Trillion issued by 56 companies, comprised of 204 securities.

PDEx-Press-Release_AEV-Fixed-Rate-Bonds

Del Monte Philippines, Inc. Debuts PHP 6.5 Billion Fixed Rate Bonds on PDEx

Press Release Tower Photo

Press Release DMPI Photo

30 October 2020, Makati, Philippines — A new member, Del Monte Philippines, Inc., was added to the community of listed Issuers in the Fixed Income Market with its maiden issuance of PHP 6.5 Billion 3-year and 5-year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry an interest rate of 3.4840% and 3.7563% per annum, respectively, to be paid quarterly.
A market leader in the food and beverage industry, DMPI has been providing healthy food and beverage products in the Philippines since 1926. Its well-established portfolio of delicious and healthy products has made it an iconic and ever-relevant brand in the homes of Filipino families.

In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil shared his positive sentiments about how DMPI can further its financial relationship with its investors in the same way that it has nurtured its brand over the years.

“We are confident that Del Monte can deepen that financial relationship with its PHP bondholders just as successfully as it has nurtured its brand into the hearts and minds of loyal consumers over its 94 years of operation in the Philippines. We trust that thereafter Del Monte would also be able to build into its funding strategies, scheduled returns to the capital market and a growing domestic investor liquidity, much like the rest of our return Issuers,” said Mr. Nakpil.

DMPI President and CEO Joselito D. Campos, Jr. highlighted how DMPI’s strong brand equity and market position have enabled it to overcome the company’s challenges in the past and to even have a successful maiden issuance despite the current global health crisis.

“We have proven our resilience and built our strength throughout all these years. We had gone through and survived changes in statehood, a World War, various diseases and epidemics, revolutions, changes in government, financial depressions. And yet, here we are – with a successful maiden bond issue which can only be possible with a strong company with strong results. Thank you again to all who made this bond issue possible,” said Mr. Campos.

This 30th listing for 2020 brings the year-to-date total of new listings to PHP 335.60 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.50 Trillion issued by 56 companies, comprised of 205 securities.

PDEx Press Release_DMPI Fixed Rate Bonds

China Bank Lists 15 Billion Series 1 Tranche 1 Bonds on PDEx

CHIB Press Release Tower Photo

CHIB Press Release

22 October 2020, Makati, Philippines — China Banking Corporation (China Bank), stock symbol CHIB, returns to the local debt market today with the listing of its PHP 15 Billion Series 1 Tranche 1 Bonds at the Philippine Dealing & Exchange Corp. (PDEx). The 2-year bonds carry an interest rate of 2.75% per annum to be paid quarterly.

The issuance was warmly welcomed by the market, with the offer being three times oversubscribed from CHIB’s initial offering.

“We note that this second bank bond issuance was oversubscribed from the original planned PHP 5 Billion, another reaffirmation of the trust and loyalty of your client bondholders just as in your previous security issuances,” said PDEx President and Chief Executive Officer Antonino A. Nakpil.

Despite the current global health crisis, 2020 proves to be a banner year for China Bank. On top of the success of the its bond offering, the first local privately-owned bank also celebrates its centennial anniversary this year. It also won the Mobile Banking & Payment Initiative of the Year – Philippines award from the Asian Banking & Finance Magazine for its China Bank mobile application.

China Bank President William C. Whang shared a few words to thank its investors for the strong market demand in their return to the capital market and emphasized the importance of capital markets as a source of capital for both issuers and investors alike.

“The capital markets play a vital role in resource mobilization and the intermediation between lenders and borrowers of capital. And we are proud and grateful that with the trust of our own clients and the investing public in China Bank’s solid fundamentals and financial strength, we are able to successfully tap the domestic capital market to enhance our funding flexibility, and at the same time, to provide investors with higher yielding investment alternatives,” added Mr. Whang.

This 29th listing for 2020 brings the year-to-date total of new listings to PHP 329.13 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.49 Trillion issued by 55 companies, comprised of 203 securities.

PDEx Press Release_CHIB Tranche 1 Bonds Due 2022

PDS Group Supports Atenean Scholars through Amando M. Tetangco, Jr. Scholarship Fund Donation

PDS Group ASF Donation Photo

Makati, Philippines — PDS Group turned over PHP 2 Million to the Ateneo Scholarship Foundation (ASF) Amando M. Tetangco, Jr. Scholarship Fund. Established in honor of the former Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr., the scholarship fund aims to support the education of students taking up business and banking courses in the university.

As a capital market infrastructure, PDS Group is committed to promote the advancement of the Philippine financial markets by supporting programs that promote and cultivate interest and skills for future careers in the industry.

Philippine Dealing System Holdings Corp. President and Chief Executive Officer Ramon S. Monzon remarked, “On behalf of the PDS Group, I would like to thank the Ateneo de Manila University and the ASF for giving us this opportunity to be part of your noble mission and support scholars of the Governor Amando Tetangco, Jr. Scholarship Program to give students taking up business and banking courses a chance at education.”
Governor Amando M. Tetangco played a huge role in the transformation of the Philippine financial industry. During his term, Mr. Tetangco adopted an aggressive and calibrated reform agenda that significantly improved the country’s banking and finance landscape.

“Through this donation, we hope to develop the next generation of Filipinos who, like Governor Tetangco, will shape the country’s banking and finance sectors through unparalleled excellence, leadership, and public service,” added Mr. Monzon.

In response, Ateneo de Manila University (AdMU) President Fr. Roberto C. Yap S.J. said, “We are very grateful to the PDS Group for this scholarship donation for the Amando M. Tetangco, Jr. Ateneo Scholarship Fund. We are very pleased that Governor Say is the one honored for this scholarship. Ateneo is certainly very proud of him as an alumnus, easily one of the best central bankers our country has ever had and recognized by his peers in the region, Asia, and the rest of the world.”

ASF Chairman Dr. Cecilio K. Pedro was also present in the event and thanked the PDS Group for its generous contribution to the fund.

“ASF only desires for our young to continue aiming for their dreams, but we cannot do it alone. We are so grateful for our friends at the PDS Group for answering the call. Your generous donation will greatly benefit our scholars,” said Mr. Pedro.

The event was also graced by Governor Amando M. Tetangco, Jr. He reiterated the importance of education as a means to give back to society, especially during this challenging time.

“By taking some of the financial pressures off from students and families, particularly those affected by the crisis, we can enable greater access to college education. With this scholarship fund, we can help deserving students who want to earn their Ateneo degree in economics, business and related courses, areas that we really need to develop at this point. We can help them fulfill their dreams and be in a better position to give back to society,” remarked Gov. Tetangco.

PDS Press Release_Ateneo Donation Ceremony

8990 Holdings, Inc. Enrolls PHP 1.3 Billion Fixed Rate Notes Due 2022 on PDEx

HOUSE Tower Press Release

HOUSE Press Release

14 October 2020, Makati, Philippines — The local debt market welcomed back 8990 Holdings, Inc. (HOUSE) for the enrollment of its PHP 1.3 Billion Fixed Rate Notes Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The Notes were priced at 4.0500% per annum, with interests to be paid on a quarterly basis.
PDEx President and Chief Executive Officer Antonino A. Nakpil opened the event by welcoming the guests in the enrollment ceremony.

“We are delighted to welcome 8990 Holdings, Inc. back for this enrollment of PHP 1.3 Billion Fixed Rate Notes. It has been five years since 8990 Holding’s debut in the local debt market, and we happily celebrate its return today,” said Mr. Nakpil.

Mr. Nakpil also shared his positive sentiment towards the enrollment program as more issuers have been maximizing and seeing the benefits of the debt market platform.

“This enrollment is the second for the year, and we are most happy to see the enrollment program gain traction as a fast-track, alternative funding facility for Issuers and Qualified Investors,” added Mr. Nakpil.

HOUSE Treasurer Richard L. Haosen remarked, “Providing affordable housing has always been at the core of 8990’s operations. Despite the pandemic, our commitment to this remains strong. The company continues to deploy cash to operations and grow its business in key regions across the Philippines. This includes our 20 ongoing projects nationwide which will contribute to this year’s topline.”

Mr. Haosen also acknowledged and thanked the stakeholders who supported their issued notes.

“As we move forward, we hope you would continue to be our partners in realizing the dream of every Filipino of owning his own home,” said Mr. Haosen.

The virtual event was also attended by the Sole Issue Manager, Lead Arranger, and Bookrunner BDO Capital and Investment Corporation President Eduardo V. Francisco, and Co-Arranger RCBC Capital Corporation First Vice President Xavier Zialcita.

This 28th listing for 2020 brings the year-to-date total of new listings to PHP 314.13 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 55 companies, comprised of 203 securities.

PDEx Press Release_HOUSE Fixed Rate Notes Due 2022