BDO Unibank, Inc. debuts in the PDEx organized secondary marketPosted on: April 8, 2015
06 April 2015, Monday, Makati City – The local debt market welcomed the maiden listing of BDO Unibank, Inc. in the PDEx market.
With BDO’s PhP 7.5 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD), the Sy group of companies’ cumulative level of outstanding securities listed on PDEx stands at PhP 55.83 Billion, representing 11% of the total corporate fixed-income issues in the organized secondary market. This also brings the year-to-date total of new listings to PhP 20.99 billion and the total level of tradable corporate debt instruments to PhP 486 billion from 91 securities issued by 32 companies.
In his opening remarks, PDS Group President & CEO Cesar B. Crisol said: “We happily note the primary market performance of BDO’s Long-Term Negotiable Certificates of Time Deposit, with the earlier conclusion of its intended offer period due to oversubscription following strong demand from both retail and institutional investors. While this is BDO’s first listing in the organized secondary market operated by PDEx, BDO has been a long-time client of our Registry Services and we consider BDO a significant participant and partner in the progress of our markets as evidenced by its stellar performance in its activities in foreign exchange, settlements, and underwriting in the corporate securities markets.”
For his part, BDO Unibank, Inc. Senior Vice President and Head of Investor Relations and Corporate Planning Luis S. Reyes, Jr. said: “We’re happy to be finally listed on PDEx. We hope this will not be the last also. We are happy that we will be able to access a broader market with the listing on PDEx. This will facilitate the secondary trading of our issues and ultimately create more depth in our bond markets. Ultimately the long-term goal is to help develop our domestic capital markets.”
Other BDO Senior Officers in attendance were BDO Capital & Investment Corp Senior Vice President Jerome C. Guevarra, BDO Unibank, Inc. Executive Vice President, Treasurer Pedro M. Florescio III, and BDO Private Bank Senior Vice President Sonia Dy-Go. Representatives from the issue’s underwriters also graced the listing ceremony, including ING Bank N.V., Manila Branch Country Manager Zondy Garcia, ING Bank N.V., Manila Branch Managing Director – Head of Financial Markets Johnson Sia, Standard Chartered Bank Managing Director – Corporate and Institutional Coverage Juan Carlos Syquia and Standard Chartered Head of Financial Markets Diana Coronel-Singson. #