12 October 2021, Makati, Philippines —Petron Corporation listed its PHP 18 Billion Fixed Rate Bonds Series E Due 2025 and Series F Due 2027 on PDEx, the first tranche of its PHP 50 Billion SEC approved Shelf Registration. The bonds carry a coupon rate of 3.4408% p.a. and 4.3368% p.a., respectively, to be paid quarterly.
The Listing ceremony began with PDEx President and CEO Antonino A. Nakpil delivering his welcome remarks. He said: “We understand that these two issues have been well received with total orders tendered of PHP 53.25 Billion reflecting an oversubscription rate of 2.96 times the issued size. This is evidence, no doubt, of the trust, confidence and loyalty of your investors, facets that all Issuers alike look to nurture just like other client relationships.”
“The power of Petron’s investors has allowed it to now have a total of PHP 58 Billion face amount of bond listed accounting for 4.32% of all the total bonds listed and if the entire SMC Group is tallied, this would total PHP 256.31 Billion or 19.07% of all listed bonds.”, Mr. Nakpil added.
Petron is notably the 6th issuer to utilize the e-Securities Issue Portal (e-SIP). Mr. Nakpil reassured all users by saying: “We hope that you found the facilities of the electronic-Securities Issue Portal easy to use, and if so, rest assured we are committed to bringing some more features in the primary market space.”
Meanwhile, Petron Corp. CFO and Senior Vice President Emmanuel E. Eraña stated: “It is undeniable that we are indeed going through challenging and extraordinary times, as this pandemic has tested not only the financials but also the resilience and fortitude of most Corporates domestically and abroad. Despite this, we are truly grateful for the steadfast faith and confidence of investors and partner institutions in Petron, as the Company continues its robust recovery story.”
“As we turn the page and go thru this new chapter once again for Petron, we are inspired to continuously contribute positively to the communities where we are present, making sure that our initiatives, plans, and programs not only ensure the continuity of the company’s success and profitability but also espouse that of compassion and “Malasakit” to our countrymen, especially during these difficult times.”, further stated by Mr. Eraña.
This 16th listing for 2021 brings the year-to-date total of new listings to PHP 172.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.34 Trillion issued by 54 companies, comprised of 194 securities.