Petron Corporation Returns to PDEx with the Listing of its PHP 18 Billion Fixed Rate Bonds

Press Release_PCOR

10.12.2021

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.

PDEx Press Release-PCOR Fixed Rate Bonds_

The Bureau of the Treasury Lists its First-Ever Retail Dollar Bonds on PDEx

BTr RDB 10.08.2021

08 October 2021, Intramuros, Manila — Yet another milestone in the Philippine fixed income market was witnessed today as the Bureau of the Treasury (BTr) listed their 5-year and 10-year Retail Onshore Dollar Bonds on PDEx.

In his welcome remarks, PDEx president and CEO Antonino Nakpil expressed his gratitude to be part of this milestone. He said: “These issues evidence the Government’s continuing focus, through the BTr, to provide smaller domestic savers the benefits of fixed income investment.”

“The BTr’s effort has been reciprocated by its primary target Philippine retail investors, here and abroad, with total demand ramping the issue sizes from USD 552 Million up to USD 1.11 Billion for the 5-Year Bond and from USD 314 Million to USD 480 Million for the 10Y Bond”, added Mr. Nakpil.

Meanwhile, Hon. Secretary Carlos G. Dominguez said: “Through skillful execution of the government’s financing program, our people now have the opportunity to participate in a secure Retail Dollar Bond investment for just a minimum of 300 US dollars or around 15 thousand pesos.They can also increase the amount by a minimum of 100 US dollars or 5 thousand pesos.”

Sec. Dominguez also mentioned: “Apart from having a safe investment instrument, small investors are given the opportunity to support the financing needs of the country.”

For this issuance, the BTr tapped Land Bank of the Philippines and Development Bank of the Philippines as the Lead Issue Managers. BDO Capital & Investment Corporation, BPI Capital Corporation, Chinabank Capital Corporation, First Metro Investment Corporation, RCBC Capital Corporation, SB Capital Investment Corporation, Standard Chartered Bank, and Unionbank of the Philippines were also tapped as Joint Issue Managers.

PDEx Press Release_BTr Retail Onshore Dollar Bonds

D&L Industries, Inc. Lists Maiden Issuance of Fixed Rate Bonds on PDEx

DNL

DNL 09.14.2021

14 September 2021, Makati, Philippines — D&L Industries, Inc., (DNL) a Filipino company engaged in product customization and specialization for the food, oleochemicals and other specialty chemicals, plastics and original design manufacturing industries, joined the PDEx Issuer Community today with the entry of its maiden listing, PHP 5 Billion 3 and 5 years Series A and B Fixed Rate Bonds pegged at 2.7885% and 3.5962% per annum, respectively, to be paid quarterly.

In his welcome remarks, PDEx President and CEO Antonino A. Nakpil said: “What a debut for your maiden offering, well-received by your new stakeholders, that is your bondholders, who have tendered bids totaling PHP 13.8 Billion or an oversubscription level equivalent to 4.6 times the initial offer size of PHP 3 Billion and bumping it to today’s PHP 5 Billion listing. Congratulations, indeed.”

It is noted that DNL is also the 5th issuer to utilize the e-Securities Issue Portal (e-SIP).

“We hope that you had a positive experience on the use of the e-SIP, which we are committed to improve and in fact are embarking on Phase 2 of development.”, noted Mr. Nakpil.

On his end, DNL President and CEO Alvin Lao assured their bondholders of a mutually beneficial relationship. “For over five decades, D&L has proven that it is no stranger to crisis and will continue to solidify its standing as the leading market player with its four principal businesses”, said Mr. Lao.

This 15th listing for 2021 brings the year-to-date total of new listings to PHP 154.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.38 Trillion issued by 54 companies, comprised of 195 securities.

PDEx Press Release-DNL Fixed Rate Bonds

PDEx Welcomes the Local Debt Market’s Newest Issuer, PHINMA Corporation

PHN 08.20.2021

PHN

20 August 2021, Makati, Philippines — PHINMA Corporation (PHN), a business focused on construction materials, property and hospitality, and education, joined the PDEx Issuer Community with the entry of its maiden listing of PHP 3 Billion 3-Year Fixed Rate Bonds Due 2024. The bond carries a coupon rate of 3.5335% to be paid quarterly.

The PHINMA Group has, for almost 65 years, been contributing to the Philippine infrastructure development.

PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “The trust of PHINMA’s bond investors was apparent in what we have been advised was an order book of PHP 26.6 Billion or 13.3 times the original issue size of PHP 2.0 Billion. Congratulations indeed on this inaugural listing.”

“In PHINMA’s case our role is to facilitate your strategic funding so you continue “Making Lives Better”. As we have seen with other members of our Issuer Community, your instruments make your investors lives better indeed.”, added Mr. Nakpil.

Meanwhile, PHINMA Corp. President and CEO Ramon R. del Rosario, Jr. stated: “The pandemic has undeniably resulted in significant challenges to our businesses. And I believe that PHINMA was able to prove its resiliency and strategically adapt through agility, innovation and our fervent desire to improve the quality of life of all Filipinos.”

“The proceeds from this bond offering will go towards investments to further accelerate the growth of our core businesses that are focused on aiding our nation’s economic recovery.”, disclosed Mr. del Rosario.

Mr. del Rosario further added: “This bond issuance marks the first of many capital market transactions to come for the PHINMA Group. I believe that the demand we have received from this issuance is a testament to the market’s continued belief in PHINMA.”

This 14th listing for 2021 brings the year-to-date total of new listings to PHP 149.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 53 companies, comprised of 198 securities.

PDEx Press Release_PHN 3-Year Fixed Rate Bonds Due 2024

Aboitiz Equity Ventures Inc. Lists the Third Tranche of its PHP 30 Billion Sec-Approved Shelf-Registered Program

AEV

AEV 08.09.2021

09 August 2021, Makati, Philippines — Aboitiz Equity Ventures Inc. (AEV), listed its PHP 10 Billion 4-year and 7-year bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds carry a coupon rate of 3.2977% and 4.1018%, respectively, to be paid quarterly.

AEV is a returning issuer who embodies principles of sustainable development and good corporate citizenship. It comes as no surprise that AEV has chosen to utilize the e-Securities Issue Portal (e-SIP) and in turn protected many trees in the form of conserving paper for this issuance.

“The Aboitiz group has long implemented ESG principles in its business model and this is highlighted by good ratings from S&P Global Corporate Sustainability Assessment, Sustainalytics and MSCI”, said PDEx President and CEO Antonino Nakpil as he recognized AEV’s efforts in promoting and practicing sustainable development.

“While the net proceeds of this bond offering will partially refinance maturing debt obligations, it will also partially finance future funding requirements of Aboitiz Infracapital for its towers project. The towers project’s rationale is to heed the government’s call to help improve the Philippines’ physical Information and Communications Technology (ICT) infrastructure, by building 50,000 additional cell towers.”, shared AEV Chief Financial Officer Manuel Lozano.

“Through our towers project, we are able to help achieve UN Sustainable Development Goal No. 9, which seeks to significantly increase access to information and communications technology and strive to provide universal and affordable access to the Internet in least developed countries.”, added Mr. Lozano.

This 13th listing for 2021 brings the year-to-date total of new listings to PHP 146.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 52 companies, comprised of 198 securities.

PDEx Press Release_AEV Bonds Due 2025 and 2028

Alsons Consolidated Resources, Inc. Raises PHP 1.4 Billion Commercial Paper on PDEx

ACR Press Release

ACR 07.16.2021

16 July 2021, Makati, Philippines — Alsons Consolidated Resources, Inc. (ACR) lists PHP 1.4 Billion worth of Commercial Paper (CP) on the Philippine Dealing & Exchange Corp. (PDEx), the initial tranche of ACR’s PHP 3 Billion CP Program. The ACR Series O and P were set at a discount rate of 3.25% and 3.75%, respectively.

PDEx President and CEO Antonino Nakpil welcomed ACR back to PDEx in his remarks. “It is always great to see an Issuer able to fit a return to the public debt market into its funding plans and this is no exception. We see this as clearly indicating that ACR’s forays into the public debt markets over the past few years have been beneficial for its investors who have in turn supported its activities in power generation.”, said Mr. Nakpil.

“The recent power outages in various areas and their effect on remote work arrangements starkly reminded us of the value of working from centralized office with uninterrupted power supply and generator support. So we are doubly pleased to see how the capital market supports ACR on its power generation goals”, added Mr. Nakpil.

On his part, ACR Chairman and President Nicasio I. Alcantara remarked: “With the initial listing of the first tranche worth PHP 1.4 Billion of our planned PHP 3 Billion Commercial Paper Program; we at Alsons Consolidated Resources are pleased with the opportunity to provide investors with an attractive alternative investment outlet as we once again tap the short-term capital market in our continuing quest to ensure the provision of safe, reliable and affordable power for the people of Mindanao and other areas of the Philippines”

This 12th listing for 2021 brings the year-to-date total of new listings to PHP 135.64 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 53 companies, comprised of 201 securities.

San Miguel Corporation Lists the First Tranche of its PHP 50 Billion Shelf-Registration Program

Press Release Tower Photo_SMC

SMC Listing Group photo

08 July 2021, Makati, Philippines — The local debt market welcomes the second half of the year with San Miguel Corporation’s (SMC) PHP 30 Billion Fixed Rate Bonds Series I Due 2027, with a put option in 2024. The 6-year bond carries an interest rate of 3.3832% per annum to be paid quarterly.

In his welcome remarks, PDEx President and CEO Antonino A. Nakpil remarked: “This is the first tranche of another SEC-approved PHP 50 Billion Shelf Program, and this six-year issue is the largest bond issued and listed by a non-financial institution. We are happy to also note the breadth of investors that this bond size reached, at 6,097 holders, which while not a record in itself is exceeded only by San Miguel’s own subsidiary SMC’s Global Power’s issues at 6,836 and 6,307 holders.

With this listing, SMC now has a total of PHP 90 Billion of bonds listed, accounting for 6.36% of the total outstanding corporate bonds listed. And for the entire SMC Group, its total amount of bonds listed reaches PHP 244.47 Billion or 17.21% of the total listed issues.”

Meanwhile, SMC Senior Vice President, Chief Finance Officer & Treasurer Ferdinand K. Constantino said: “Despite the challenging local environment, SMC has once again successfully tapped the bond market for its financing needs from our last listing in 2019 for our P10 Billion SMC Series H Peso Fixed rate bonds.”

“On behalf of our Vice Chairman, President and COO, Mr. Ramon S. Ang, allow me to express our outmost appreciation to everyone who worked with us in achieving this noteworthy P30 Billion issuance out of our P50 Billion shelf registration.” Added Mr. Constantino.

This 11th listing for 2021 brings the year-to-date total of new listings to PHP 134.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 53 companies, comprised of 200 securities.

PDEx Press Release_SMC Fixed Rate Bonds Series I Due 2027

Energy Development Corporation Returns to PDEx With its PHP 5 Billion ASEAN Green Bonds

Press Release Tower Photo_EDC

EDC 06.10.2021

25 June 2021, Makati, Philippines — Energy Development Corporation (EDC) returns to the local debt market today with the listing of its PHP 5 Billion 3 and 5 years Series A and B Fixed Rate ASEAN Green Bonds at 2.8565% and 3.7305% per annum, respectively, to be paid semi-annually.

The Listing Ceremony began with PDEx President and CEO Antonino A. Nakpil delivering his welcome remarks. “It is fitting that EDC, a main contributor to the Philippines ranking third in the world in geothermal energy production, and a “poster firm” of Green, take on the initiative through its PHP 15 Billion shelf registered ASEAN Green Bonds program that will supply instruments for “woke” investors.”, said Mr. Nakpil.

The event was also graced by the Securities and Exchange Commission Chairman Emilio B. Aquino. In a special message, Hon. Aquino remarked: “The commission commends EDC for its green bond framework and its goal to promote a regenerative environment and society while contributing to a low-carbon economy by increasing access to reliable renewable energy. EDC committed that the proceeds of the first tranche of the ASEAN Green bond issuance will be used for the expansion and maintenance of the Palayan Bayan Binary Project, Mindanao 3 Binary Project, and other geothermal projects.”

“We recognize EDC’s efforts in aligning their objectives with the United Nations Sustainable Development Goals, specifically SDG number 7, which is to ensure access to affordable and clean energy. EDC has maintained a 100% percent clean energy portfolio, and we have noted the company’s vision to build a future that is less reliant on carbon emissions and a limitless renewable energy source.”, added Hon. Aquino.

Energy Development Corporation President and COO Ricky B. Tantoco remarked: “We are humbled by the overwhelming reception of the bond investors considering our last bond issuance was 8 years ago back in 2013. The issuance of the Green Bond is aligned with our crystalized mission of forging collaborative pathways for a decarbonized and regenerative future.”

This 10th listing for 2021 brings the year-to-date total of new listings to PHP 104.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 53 companies, comprised of 201 securities.

PDEx Press Release_EDC ASEAN Green Bonds

Metrobank Lists its PHP 19 Billion Bonds Due 2026 On PDEx

Press Release Tower Photo_MBT

MBT Listing

04 June 2021, Makati, Philippines — Metropolitan Bank & Trust Company (Metrobank) lists its PHP 19 Billion 5.25-year Bonds on the Philippine Dealing & Exchange Corp. (PDEx). This bond issuance is the final tranche under its Issuance Program established in 2018. The bonds carry an interest rate of 3.60% per annum to be paid quarterly.

Metrobank is known to have won the PDS Annual Awards’ highest honor, the Cesar E.A. Virata Award (bank category) for 8 straight years in a row. It was also the first bank to start the round of bank bond issuances in the country.

PDEx President and CEO Antonino A. Nakpil remarked: “The focus on securities distribution to all investors has long been a trademark of Metro, which built up a broker network across the nation way before “financial inclusion” became a buzz phrase.”

This 9th listing for 2021 brings the year-to-date total of new listings to PHP 99.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.42 Trillion issued by 54 companies, comprised of 201 securities.

PDEx Press Release_MBT Series D Bonds

Ayala Corporation Raises PHP 10 Billion Fixed Rate Bonds on PDEx

Press Release Tower Photo_AC

PR photo_ACv2

 28 May 2021, Makati, Philippines — Ayala Corporation (AC) returns to the local debt market today where they have listed their PHP 10 Billion 3 and 5 years Series A and B Fixed Rate Bonds at 3.0260% and 3.7874% per annum, respectively, to be paid quarterly.

Notably, AC is the second issuer to utilize the e-Securities Issue Portal (e-SIP) in its pre-issuance activities following its subsidiary, Ayala Land Inc. who pioneered e-SIP’s utilization earlier this month.

The ceremony began with PDEx president and CEO Antonino A. Nakpil delivering his welcome remarks.”We note that this tranche is the first from AC’s PHP 30 Billion debt securities program, but that is nothing surprising and merely standard practice for a veteran of Shelf-Issue programs. We do hope however that the e-SIP helped ease pain points in this round of issuance.” said Mr. Nakpil.

Mr. Nakpil also acknowledged the SEC and DOF. “We take this opportunity to thank the SEC and DOF for their support and strong encouragement for the PDS Group to continue with this portal and other inclusion through digitization initiatives.”, added Mr. Nakpil.

This listing ceremony was also graced by the Chairman of the Securities and Exchange Commission, Hon. Emilio B. Aquino through a recorded message. Hon. Aquino said: “Allow me to take this opportunity to thank issuers like Ayala Corporation for playing an important role in realizing the capital market’s potential to sustain our economy’s expansion and bringing growth to every Filipino. As issuers, you created legitimate investment opportunities, and through the capital market, you make them accessible and thereby allow our fellow Filipinos to share with your business success.”

“And by pursuing your expansion projects responsibly and sustainably, more of our fellow Filipinos can be employed and will be able to provide for and secure a better future for their families.”, added Hon. Aquino.

Meanwhile, Ayala Corporation President and CEO Fernando Zobel de Ayala said: “The Ayala Group, specifically Ayala Land and Ayala Corporation are proud pioneers in utilizing the e-SIP system which allows primary market issuers like Ayala to do away with voluminous paper-based submissions to the PDS registry and PDEx and expand our reach by selling securities online.”

This 8th listing for 2021 brings the year-to-date total of new listings to PHP 80.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.41 Trillion issued by 54 companies, comprised of 201 securities.

PDEx Press Release_AC Fixed Rate Bonds