BSP Lists Securities on Phil. Dealing & Exchange Corp.

Press Release Tower Photo

21 September 2020, Makati, Philippines — The Philippine fixed income market marks another milestone as the Philippine Dealing & Exchange Corp. (PDEx) lists securities issued by the Bangko Sentral ng Pilipinas (BSP) for trading today. This comes after the successful auction for the 28-day instruments held last Friday, 18 September 2020. The BSP received tenders totaling PHP 43 Billion, which was 2.168 times greater than the offer of PHP 20 Billion at the auction.

The BSP Bills and BSP Bonds, collectively referred to as the BSP Securities, are the central bank’s latest tool for managing financial system liquidity and add to the supply of risk-free financial instruments in the banking system. The issuance of these securities forms part of the monetary authority’s strategy to focus on market-based monetary operations. In line with this objective, BSP Securities shall only be accessible by financial institutions that are members of the BSP Monetary Operations System (“MOS”).

The BSP intends to issue securities on a weekly basis, but the schedule of issuances, volume and tenor of the issue for auction is subject to change depending on market appetite and projected liquidity conditions. Every BSP Security auction in the primary market shall occur two (2) business days prior to that BSP Security’s issue date. Moving forward, each BSP Security shall be automatically listed on the PDEx Fixed Income Market one (1) business day after each auction and become tradable for settlement on issue date.

PDS Press Release BSP Securities

Alsons Lists PHP 1 Billion Commercial Paper on PDEx

ACR Press Release Tower Photo

Press Release Photo_ACR

14 September 2020, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) lists its PHP 1 Billion Commercial Paper (CP) on the Philippine Dealing & Exchange Corp. (PDEx), the second tranche of ACR’s PHP 2.5 Billion CP Program. The ACR Series L, Series M, and Series N Commercial Paper were pegged at a discount rate of 3.25%, 4.00%, and 4.75%, respectively.

PDEx President and Chief Executive Officer Antonino A. Nakpil said: “We are pleased to welcome Alsons Consolidated Resources, Inc. back to list this PHP 1 Billion tranche of Commercial Paper. This is ACR’s second issuance for 2020, and we are happy to see another return issuer able to include scheduled returns to the capital market as part of its funding strategy.”

“We note that ACR has its operations in Mindanao now in full swing and that it also has sustainable energy initiatives. We wish ACR success in these initiatives and as it shifts course toward the direction of renewable energy, we hope that ACR can make use of the green bond and sustainable bond structures that have already been arranged locally,” added Mr. Nakpil.

For his part, ACR Executive Vice President Tirso G. Santillan, Jr. remarked, “We at Alsons Consolidated Resources are glad to once again tap the short-term capital market for our working capital needs while continuing to support the financial markets by providing investors with an alternative investment outlet thru our commercial paper issuance.”

“We have been fortunate in that the development of our new power projects such as our PHP 4.5 Billion 14.5 mega-watt hydro power plant in Sarangani and a PHP 16 Billion 105 mega-watt baseload thermal power plant in Zamboanga City are on-track. We at ACR believe that our continuing pursuit of these projects is our contribution to the economic recovery of our country by helping create new jobs and stimulate the local economies in these project locations and in the areas where we operate,” added Mr. Santillan.

Multinational Investment Bancorporation (MIB) acted as the issue’s Sole Issue Manager, Lead Arranger, Underwriter, and Market Maker.

This 25th listing for 2020 brings the year-to-date total of new listings to PHP 296.58 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprised of 203 securities.

PDEx Press Release_ACR Commercial Paper

Phoenix Petroleum Lists PHP 3.1 Billion Series D Commercial Paper on PDEx

Press Release Tower Photo

PNX Press Release

26 August 2020, Makati, Philippines — Phoenix Petroleum Philippines, Inc. (PNX) lists its PHP 3.1 Billion Series D Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx). With a 5.00% discount rate per annum and tenor of 332 days, this issue’s proceeds will fund the procurement of imported fuels and lubricants.

PDEx President and Chief Executive Officer Antonino A. Nakpil said, “We are delighted to welcome Phoenix Petroleum Philippines back to list this tranche of PHP 3.1 Billion of Commercial Paper. Today is listing number 11 and apart from setting Phoenix Petroleum as the most experienced issuer of CPs, it signifies the ongoing building and deepening of Phoenix with its client investors.”

For his part, PNX President and Chief Operating Officer Henry Albert R. Fadullon remarked, “We are grateful that against the backdrop of bounding uncertainties in the market, we have been able to successfully return to PDEx.”

“We believe that with the support of the finance and investment communities, Phoenix, along with the rest of the local businesses, will be able to help our country recover and get stronger coming out from this crisis,” added Mr. Fadullon.

This 24th listing for 2020 brings the year-to-date total of new listings to PHP 295.03 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 55 companies, comprised of 200 securities.

PDEx Press Release_PNX Series D Commercial Paper Due 2021

BPI’s Pioneer COVID Action Response “CARE” Bonds Raises PHP 21.5 Billion on PDEx

Press Release Tower Photo_BPI Press Release Photo_BPI

7 August 2020, Makati, Philippines — Bank of the Philippine Islands (BPI) returns to the PDEx organized market for the third time this year for its PHP 21.5 Billion Fixed Rate COVID Action Response or “CARE” Bonds Due 2022, the first bond issuance dedicated to support the country’s COVID-19 response efforts. Crafted under BPI’s Sustainable Funding Framework, this maiden issuance is also the country’s first Social Bond aligned with the SEC and ASEAN Social Bond Standards.

The bonds were more than seven (7) times oversubscribed from its initial offer of PHP 3 Billion. The 1.75-year bonds have quarterly coupons priced at 3.05% per annum, and its proceeds will be used to provide capital support to eligible micro, small, and medium enterprises (MSMEs).

In his Welcome Remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome the Bank of the Philippine Islands back to list this PHP 21.5 Billion CARE Bond, and marking several milestones as the first Philippine Social Bond compliant with the SEC and ASEAN Social Bond Standards, the first-ever ASEAN Social Bond issued by a Philippine Issuer, the second Social Bond issued by an ASEAN Issuer, but the first Local Currency Social Bond from an ASEAN Issuer. Kudos to BPI, the Issuer.”

“Equally remarkable are the circumstances under which this funding exercise is being achieved, a seven-week stretch wherein private corporate issuers, with today’s listing, raised PHP 136.95 Billion in the fixed income market. All the while, the National Government is simultaneously raising funds well north of PHP 300 Billion through its successful Retail Treasury Bond, all told investors are piling in close to PHP 500 Billion into bonds. Kudos to domestic investors,” added Mr. Nakpil.

Commissioner Ephyro Luis B. Amatong of the Securities and Exchange Commission was also present in the event, and congratulated BPI for the success of the country’s first ASEAN Social Bonds.

“Thanks to BPI’s vision and initiative in being the first mover in the peso market, we now have ‘proof of concept’ for ASEAN Social Bonds in the Philippines. This transformative transaction puts the Philippines in an enviable position of having a universal bank issue local currency social funding on a commercial basis and without need for support from any development financial institutions,” said Commissioner Amatong.

For his part, BPI President and CEO Cezar P. Consing elaborated on the importance of supporting MSMEs and how it aligns with BPI’s vision of pursuing sustainable and impactful business practices.

“The MSME sector accounts for probably only a little over 10 percent of all loans in our financial system, and yet it accounts for 60% of all employment.,” said Mr. Consing.

“We issued CARE bonds to address the financing needs of MSMEs as they work to overcome the challenges brought about by Covid-19. The amount raised adds to our capability to provide financing to this very important segment of the economy,” added Mr. Consing.

This 23rd listing for 2020 brings the year-to-date total of new listings to PHP 291.95 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.51 Trillion issued by 56 companies, comprised of 203 securities.

PDEx Press Release_BPI Fixed Rate CARE Bonds Final

RCB Lists 16.6 Billion Series B Bonds on PDEx

Press Release Tower Photo

Press Release Photo

27 July 2020, Makati, Philippines — Rizal Commercial Banking Corporation (RCB) lists its PHP 16.6 Billion Series B Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The 2-year Peso Fixed Rate bond, which carries an interest rate of 3.25% per annum to be paid on a quarterly basis and forms part of RCB’s PHP 100 Billion Bond and Commercial Paper Program, were oversubscribed from the initial offering of PHP 3 Billion.

PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome Rizal Commercial Banking Corporation back to list this PHP 16.6 Billon Series B Bonds, a listing that will officially take us over the PHP 1.5 Trillion halfway milestone for listed bonds outstanding.

“As we have noted in the past two listings, this issuance, apart from happening alongside a mammoth Retail Treasury Bond offering, climbing higher into record territory, is among a batch of private debt issues over the past four weeks reaching 115 Billion today, which incidentally is 132 days into community quarantine. This just tells us two things: one, it reveals just how much investment liquidity is present, and two, it indicates the resilient investor demand and confidence for RCBC issues,” added Mr. Nakpil.

On behalf of RCB, President and CEO Eugene S. Acevedo remarked: “Today marks another milestone for RCBC as we list our Php16.6 Billion 2-year Peso Fixed Rate Bond yielding 3.25% per annum on the Philippine Dealing & Exchange Corporation. In the midst of challenging times and competing issuances, investors responded positively to RCBC’s peso bond offering. This is clearly a strong indication of continued investor’s confidence and supporting our institution,” said Mr. Acevedo.

ING Bank N.V., Manila Branch Managing Director and Country Head Hans B. Sicat also shared a few words as the Sole Lead Arranger and Bookrunner, and one of the issuance’s Selling Agents and Market Makers.

“The fact that RCBC can attract an oversubscription during an unprecedented global crisis speaks volumes of the strength of the bank and the investment opportunity investors cannot pass up. We hope to be your consistent partner and we wish everyone continuing success,” said Mr. Sicat.

This 22nd listing for 2020 brings the year-to-date total of new listings to PHP 270.45 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.51 Trillion issued by 56 companies, comprising 204 securities.

PDEx Press Release_RCB Fixed Rate Bonds Due 2022

Security Bank Raises 13.5 Billion Fixed Rate Bonds on PDEx

Press Release_SECB Fixed Rate Bonds Due 2022

Press Release SECB

24 July 2020, Makati, Philippines — Security Bank Corporation (SECB) lists its PHP 13.5 Billion Fixed Rate Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx), paying quarterly coupons priced at 3.125% per annum. The issuance exceeded its original target of PHP 5 billion backed by strong investor demand.

PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome Security Bank Corporation back to list this PHP 13.50 Billion two-year Fixed Rate Bond. This is the second issuance of Security Bank for 2020 and from its initial size of PHP 5 Billion, again oversubscribed and keeping its track record of oversubscriptions intact.”

“We must note that this funding exercise is happening amidst a large Retail Treasury Bond offering of the Government, which is headed even higher into record territory in terms of new funding and after the debt exchange surely in record outstanding size. Through these circumstances, this strong response to your issuance must probably indicate that investors have trust in the security of Security’s securities,” he added.

For his part, SECB Executive Vice President & Treasurer Raul Martin A. Pedro remarked, “Thank you to everyone for making this day possible. I wouldn’t want to say that this deal was easy. Admittedly, there were many factors that went in our favor – the enormous amount of market liquidity, low inflation, very accommodative stance by our monetary authorities, and a number of accounts and individuals looking for safe investment outlets.”

Philippine Commercial Capital, Inc. President Delta A. Audencial also shared a few words as the Sole Bookrunner, Market Maker, and one of the issuance’s Arrangers.

“This successful issuance is a huge achievement and a testament to the continued confidence and support of investors for Security Bank Corporation, despite the uncertainties brought about by the pandemic,” said Ms. Audencial.

This 21st listing for 2020 brings the year-to-date total of new listings to PHP 253.83 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprising 203 securities.

PDEx Press Release_SECB Fixed Rate Bonds Due 2022

SM Investments Corporation Enrolls Maiden Issuance of its PhP 5.6 Billion Fixed Rate Notes Due 2022 on PDEx

Press Release Tower SMIC

Press Release SMIC

22 July 2020, Makati, Philippines — The local debt market welcomed back SM Investments Corporation (SMIC) for the maiden enrollment of its PHP 5.6 Billion Fixed Rate Notes Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The Notes were priced at 2.875% per annum, with interests to be paid on a semi-annual basis. Today’s issuance represents the fifth enrollment on PDEx since 2017, and the first of its kind for 2020.

In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are happy to see the enrollment program again, and we understand that for this issuance, the time from inception to issuance and enrollment today has been nineteen (19) days. So we are even more pleased to see the enrollment process work exactly as it was intended, a fast-track funding/investment medium for Issuers and Qualified Investors.”

SMIC President and Chief Executive Officer Frederic C. DyBuncio also shared a few words on behalf of the issuer.

“As we continue to adapt, innovate, and build our capabilities to respond to the new realities, we are heartened by our company’s resilient financial condition and find new ways to strengthen our financial position further,” said Mr. DyBuncio.

“We would like to thank our Joint Lead Arrangers, BDO Capital and China Bank Capital, for making this issue possible, and of course, PDEx and our investors for its continued trust in SM Investments,” added Mr. DyBuncio.

This 20th listing for 2020 brings the year-to-date total of new listings to PHP 240.33 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprising 202 securities.

PDEx Press Release_SMIC Fixed Rate Notes Due 2022

Robinsons Land Returns to the PDEx Bourse with its PHP 13.19 Billion Fixed Rate Bonds Due 2023 and 2025

Press Release Tower Photo

RLC VListing 07.17

17 July 2020, Makati, Philippines — Robinsons Land Corporation (RLC) returns to the local bourse with the listing of its PHP 12.76 Billion Series C Fixed Rate Bonds Due 2023 and PHP 427.21 Million Series D Fixed Rate Bonds Due 2025 on the Philippine Dealing & Exchange Corp. (PDEx). The issuance was warmly received by the market, allowing RLC to increase the issue size from PHP 10 Billion to a total of PHP 13.19 Billion. With semi-annual coupons pegged at 3.6830% and 3.8000%, respectively, the proceeds will be used to fund 2020 and 2021 capital expenditure, re-finance maturing liabilities, and support other general purposes.

In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to see how RLC has been able to achieve its funding and be oversubscribed while there are a slew of issuances that are ongoing, notably the Retail Treasury Bond of the BTr, which just had a good reception as well yesterday. This is most certainly a testament of the goodwill and trust that RLC has established with its bondholders, kudos.”

RLC President and Chief Executive Officer Frederick D. Go also shared a few words on behalf of the issuer.

“This is a result of our unwavering commitment to ensure that we will be able to consistently deliver value to our stakeholders. Amid the community quarantine, temporary business closure and other challenges that were brought upon by the pandemic, Robinsons Land remained resilient and agile, and emerged a stronger company,” said Mr. Go.

“We are very grateful of the market’s positive reception of our bond offer resulting to it being oversubscribed. It underscores the investors’ continued vote of confidence in the company’s strength and growth prospects,” added Mr. Go.

This 19th listing for 2020 brings the year-to-date total of new listings to PHP 234.73 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprising 201 securities.

PDEx Press Release_RLC Fixed Rate Bonds Due 2023 and 2025

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