SL Agritech Lists Maiden Issuance, PhP 1 Billion Commercial Paper Program, in the PDEx PlatformPosted on: January 22, 2016
22 January 2016, Makati City – The local debt market welcomes for the first time, SL Agritech Corporation, a leading producer of premium rice and hybrid rice seeds in the country.
SL Agritech, which has obtained an issuer rating of PRS Aa from the Philippine Rating Services Corp., operates plants in Laguna, Davao, and Nueva Ecija. It has also expanded its footprint abroad, exporting to countries in Southeast Asia and the Middle East, and North America.
The listing of PhP 1 Billion SLAC Commercial Paper Program is the second Commercial Paper to be listed in PDEx this year 2016 and marks the 75th listing since the public market opened in 2008. It brings the year-to-date total of new listings to PhP 4.5 Billion and the total level of tradable corporate debt instruments to PhP 544.04 billion issued by 36 companies, comprised of 106 securities.
PDS Group President & CEO Cesar B. Crisol said: “We hope that the planting of this “first seed” in the public debt market will yield a rich financial harvest not only for SL Agritech, but importantly for the new community it now reaches: its client investors. We trust that this would prove to be a positive experience so that we can look forward to SL Agritech’s return to the markets and possible “crossbreeding” into longer term issues as its needs warrant.”
In turn, SL Agritech President & CEO Henry Lim Bon Liong remarked: “Today marks another milestone for SL Agritech Corporation as it launches its initial PhP 1.0 billion public offering of Short-Term Commercial Paper. This signals the readiness of the company to level up with top corporations in getting attention from creditors and investors locally and internationally.”
The event was held at the PDS Group Assembly Hall and was graced by SL Agritech Officers and Directors, including Director Joseph Lim Bon Huan, CFO Gerry Lim Bon Hiong, and Director Evelyn C. Lim.
The issue participants who made the listing possible were also present, represented by Multinational Investment Bancorporation President Marilou C. Cristobal, AB Capital and Investment Corporation President Senen L. Matoto, and Philippine Commercial Capital, Inc. Vice President/Investment Banking Head Gonzalo Benjamin A. Bongolan. #