GT Capital Holdings, Inc. lists PhP 12 billion fixed rate bonds due 2019, 2021, and 2024 in the PDEx organized secondary marketPosted on: August 7, 2014
Makati Philippines, 07 August 2014 – GT Capital Holdings, Inc. (GTCAP) rang the PDS ceremonial bell a second time for its latest issue, signifying the start of trading of its P12 Billion Fixed Rate Bonds due 2019, 2021, and 2024 on the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market.
With GT Capital’s new bond issuance of PHP 12 Billion, the total listed amount of all its companies and affiliates on PDEx is now PHP 22 Billion, representing 5.0% of the total corporate fixed-income issues in the organized secondary market. These GTCAP bonds likewise received the PRS Aaa Rating, highlighting the positive response from both institutional and retail investors in the market. This led the underwriters to exercise the overallotment option of PhP 2 Billion over the original float of PhP 10 Billion.
GTCAP Bonds Series A bonds maturing in 5 years and 3 months carry an interest rate of 4.7106% per annum. The Series B bonds maturing in 7 years bear a fixed-interest rate of 5.1965% per annum. And, the Series C bonds maturing in 10 years carry a fixed-interest rate of 5.6250% per annum.
This is now the eleventh listing for the year, pushing the record total volume of new listings to PhP 126.8 billion. It also brings the total level of tradable corporate debt instruments to PhP 423.76 billion issued by 26 companies, with 74 securities being traded.
PDEx Chairman and CEO Cesar B. Crisol said in his welcome remarks: “We join hands with GT Capital in ringing the bell again to herald another milestone for the Philippine capital market. This should signal a momentum of sustained growth which is very much different from the periods of boom and bust cycles of the past. Indeed, the fruits of progress that we share today are the results of our synergies as operating units in the Philippine capital market. Like GT Capital’s business strategy, let us also shift to higher gears and maximize our synergies to extend our market reach beyond our immediate region and contribute to the progress of our market and the Philippine economy.”
For his part, GT Capital Co-Vice Chairman Alfred Vy Ty remarked: “We believe that the success of our bond issuances validates the continued confidence of both institutional and individual investors in GT Capital. We thus take this opportunity to express our gratitude to our valued investors for their unwavering support. Furthermore, the PDEx listing of GT Capital’s bonds supports the sustained development of our country’s capital markets, and allows numerous investors nationwide to conveniently and securely trade their bond holdings.”
The event was attended by the Directors and Executives from GT Capital represented by Chairman Francisco C. Sebastian, Co-Vice Chairman Alfred Vy Ty, President Carmelo Maria Luza Bautista, and Senior Vice President Francisco H. Suarez Jr.
Also present were the Issue Participants, including First Metro Investment Corporation President Roberto Juanchito Dispo, BDO Capital & Investment Corporation President Eduardo V. Francisco, BPI Capital Corporation President Dennis Montecillo, China Banking Corporation First Vice President Virgilio Chua, Maybank ATR Kim Eng Capital Partners, Inc. Managing Director Manuel Banayad.#