SMC Global Power Lists Bonds to Cap a Record for Most New Corporate Bonds Listed in PDEx in One YearPosted on: December 22, 2017
22 December 2017, Makati Philippines – SMC Global Power Holdings, Inc listed its PhP 20 Billion Fixed Rate Bonds due 2022, 2024, and 2027 on PDEx to cap a banner year for the largest amount of new listings in a year. The 29th listing brought the total volume of new bonds listed for 2017 to PhP 207.43 Billion, the highest level of new corporate bond listings since the public market opened in 2008 and surpassed the level of new listings in 2016 by 23%.
In his welcome remarks, PDS Group President and CEO Cesar Crisol said: “We shall end 2017 with a total outstanding amount of bonds listed at PHP 792.5 Billion now a long way from the 2008 year-end figure of PHP 10.0 Billion, and marking a compounded annual growth rate of 62.55% for the nine year span. We look forward to seeing this momentum for fixed income issuances carry over into 2018 and especially with the Enrollment Framework live and in place.
Directors and Officers of the San Miguel Group were present for the occasion led by SMC Chief Financial Officer Ferdinand Constantino, SMC Deputy CFO Joseph Pineda, SMC Treasury Head Sergio Edeza, SMC Global Power General Manager Elenita Go, and SMC Global Power CFO Paul D. Causon.
SMC Global Power General Manager Elenita D. Go led the ringing of the listing bell to herald the start of trading of the SMCGP Bonds on PDEx. She was grateful to everyone who made the PhP 20 Billion Bond Issuance a success, stating “This reflects the continuing confidence of the local market on the vision and prospects of SMC Global Power. The funding from these bonds is one big step towards our quest to support nation-building and contribute to our country’s economic progress.”
With SMC Global Power’s listing, the San Miguel Group’s total share of listed issues will reach PhP 127.11 Billion and represent 16.0% of the overall outstanding listed corporate bonds in PDEx which shall now stand at PHP 792.52 Billion.
Representatives from the Issue Participants also attended the event including BDO Capital & Investment Corporation President Eduardo Francisco, PNB Capital & Investment Corporation Senior Vice President Victor Abad, Standard Chartered Bank Capital Markets Head Erwein Catoto, BPI Capital Corporation President Juan Carlos Syquia, China Bank Capital Corporation Managing Director Ryan Tapia, RCBC Capital Corporation President & CEO Jose Luis Gomez, and BDO Unibank, Inc. Executive Vice President Cecilia Tan.#