The debt market closes a banner year with RCBC’s listing of Long-Term Negotiable Certificates of Time Deposit due 2020 In PDExPosted on: January 6, 2015
19 December 2014, Makati City, Philippines – The debt market celebrated the final listing for 2014 with the listing of Rizal Commercial Banking Corporation’s (RCBC) PhP 2.1 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2020 in the PDEx market.
The return of RCBC in the debt market brings a record year-end figure of PhP 191.85 Billion and the total level of tradable corporate debt instruments to PhP 470.31 Billion issued by 31 companies, with 88 securities being traded. This marks a 129.76%¬ growth in the outstanding issue size of listed corporate bonds from last year.
RCBC is a steadfast supporter of the registered market and an early member of the PDEx Issuer Community, being the second bank to be listed as an issuer since the public market opened in 2008. It is also an active participant in most of the fixed-income market activities.
PDS Group President & CEO Cesar B. Crisol said: “With more bank-issued instruments being listed for public trading, we hope to see the continued development of the depositors’ mindsets from short-term savers to longer-term investors aware of the variety of investment alternatives, liquidity and price information available to reasonably assess and make long-term investment commitments. As we enhance the integrity and capacity of the market to facilitate listing and trading of more types of debt securities, we look forward to further expanding the Issuer community with more institutions raising funds through the capital markets for growth and expansion.”
RCBC Executive Vice President John Thomas G. Deveras remarked: “RCBC fully supports the initiatives of PDEX, with the listing of our LTNCDs in particular, as we understand that this is of prime importance to our depositors and client base. The listing provides the avenue for liquidity and market access, and more importantly, for transparency, especially for small investors. This listing, and that of our future debt issuances, will showcase the bank’s commitment in providing the investing community with investment options which can be traded in a transparent public exchange.”
RCBC Directors and Issue Underwriters graced the event, including RCBC Senior Vice President Carlos Cesar B. Mercado, RCBC First Vice President Francisco G. Singian, Jr., RCBC First Vice President Maria Teresa C. Velasco, and The Hongkong and Shanghai Banking Corporation Limited SVP and Global Markets Head Dondi D. Baltazar.