8990 Holdings, Inc. Lists Maiden Bond Issues on the PDEX Organized Secondary MarketPosted on: July 20, 2015
16 July 2015, Makati, City – 8990 Holdings, Inc. joined the Issuer community of the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market, with its maiden listing of PhP 9 Billion HOUSE Fixed Rate Bonds due 2020, 2022, and 2025.
A strong demand for the 8990’s first bond issue was exhibited by the investing community, expanding the initial offer of PHP 5 Billion to a total of PHP 9.0 Billion in face amount.
As a PSE-listed corporation and one of the Philippine’s largest home builders for the masses, 8990 Holdings has expanded its product lines from providing solid, affordable, and accessible housing to developing malls and medium-and-high-rise condominium projects intended for the working class Filipino. Following a similar path, the firm is now also diversifying its sources of long-term financing with these bond issues.
8990 Holdings Chairman Mariano D. Martinez remarked: “In May of 2014 we brought our company public so that the investing public may also share in the fruits of our labor. And now in July 2015, only 14 months from our PSE listing, we have successfully issued our 8990 Fixed Rate Bonds that is carried on the shoulders of 10,000 homebuyers. I am told by many that this singular financial feat has secured for 8990 a historic first in the annals of Philippine bond issuances. If this is indeed true then we are proud to say that not only is the Filipino worth housing for but he is also worth investing in.”
PDS Group President & CEO Cesar B. Crisol said: “We laud 8990 Holdings, Inc. for taking a significant stride, from providing shelter to the larger mass of Filipino families to now offering a new set of stakeholders, the HOUSE bondholders, long-term investments supported by the framework of an organized and registered secondary market.”
This listing of HOUSE PhP 9.0 Billion Fixed Rate Bonds is the sixth for 2015, bringing the year-to-date total of new listings to PhP 45.39 Billion and the total outstanding listed issues to PHP 484.78 Billion.
The event was held at the PDS Group Assembly Hall and was graced by 8990 Holdings Directors: Chairman Emeritus Luis N. Yu, Jr., President and CEO Januario Jesus B. Atencio III, Director Raul Fortunato R. Rocha, and Director Willibaldo J. Uy.
Representatives from the underwriters and issue participants also attended the event, including BDO Capital & Investment Corporation President Eduardo Francisco, First Metro Investment Corporation First Vice President Franz Bonoan, SB Capital Investment Corporation Director Martin Villalon, China Banking Corporation Vice President Manuel San Diego, Security Bank Corporation Senior Vice President Jeanette Keh, BDO Trust and Investments Group Vice President Susan Atienza, BDO Unibank, Inc. Senior Executive Vice President Walter Wassmer, Metropolitan Bank & Trust Company Executive Vice President Mylene Capras, and Development Bank of the Philippines Corporate Banking Sector Head Lilia G. Baun .#