Robinsons Bank Rings First Entry of LTNCTDS into the PDEx PlatformPosted on: June 16, 2017
16 June 2017, Makati Philippines – The PDS Group ushered in a new entrant to the PDEx Issuer Community, Robinsons Bank Corporation (RBANK), one of the fastest growing commercial banks in the Philippines.
Robinsons Bank Director Omar Byron T. Mier and Robinsons Bank Executive Vice President and Chief Operating Officer Angelito V. Evangelista led the ringing of the bell to herald the listing and the start of trading of the PhP 4.18232 Billion RBANK Long-Term Negotiable Certificates of Time Deposit (LTNCTD) due 2022 on the PDEx platform.
With Robinson Bank’s listing, the JG Group of Companies’ combined level of outstanding securities listed on PDEx stands at PhP 46.2 Billion, representing 6.5% of the total corporate fixed-income issues in this registered market.
Robinsons Bank Director Omar Byron T. Mier remarked: “This symbolic ringing of the bell is a huge milestone for Robinsons Bank. This represents our initial entry into the Debt Capital Market, and was favorably received, evidenced by the oversubscription by P1.18B over the original BSP approved amount of P3B. Given that this is Robinsons Bank’s first and primary issuance of an LTNCD, this is certainly a confirmation that the Bank is accepted in the capital market and is a testament to the public’s trust and confidence in the bank, and its parent the JG Summit Group.”
PDS Group President and CEO Cesar B. Crisol said: “Robinsons Bank itself is present in the markets and infrastructure operated by the PDS Group, and now as an Issuer, it has one more role to add to its engagements across the fixed income and foreign exchange markets, and its range of activities from dealing, brokering, settlement, and post settlement services. Robinsons Bank is indeed a partner of choice in promoting the progress of our capital markets.”
The listing marks the fourteenth listing for the year, reaching a level of PhP 107.28 Billion worth of new listings, an increase of 440% from the same period last year. This also brings the total level of tradable corporate debt instruments to PhP 713.84 Billion issued by 45 companies with 122 securities.
The event took place in the presence of Robinsons Bank Senior Officers – Director Omar Byron T. Mier, Executive Vice President and Chief Operating Officer Angelito V. Evangelista, and Treasurer and Treasury Group Head Ma. Regina N. Lumain; and BPI Capital Corporation Senior Vice President Rhoda A. Huang as the Arranger, Selling Agent, and Broker Specialist of the LTNCTD issue. #