SL Agritech Returns to the PDEx Bourse with the Listing of PhP 2.0 Billion Commercial Paper ProgramPosted on: March 28, 2018
28 March 2018, Makati Philippines – SL Agritech Corporation returned to the PDEx bourse to list its PhP 2.0 Billion Commercial Paper Program.
It was in January 2016 when the local debt market first welcomed SL Agritech with the issuance and listing of its PhP 1 Billion Commercial Paper Program. This was followed by another issuance in December of the same year, listing its PhP 1.5 Billion worth of Commercial Paper.
The additional Commercial Paper amounting to PhP 2.0 Billion carry the same security features as the first two issues. The SLAC Commercial Paper Program Series G, H and I were pegged at the final rate of 4.9000%, 5.1250%, and 5.3000%, respectively.
SL Agritech Chief Finance Officer Gerry Lim Bon Hiong and Director Joseph Lim Bon Huan led the ringing of the ceremonial bell to herald the start of trading of the SLAC Commercial Paper Series G, H, and I in the secondary market. Mr. Joseph Lim Bon Huan shared the firm’s developments for the past months and hoped that its expansion both here and abroad would make the Philippines known for leading the rice sufficiency industry.
In his welcome remarks, PDS Group President Cesar Crisol remarked: “We are pleased that the market has received SLAC’s commercial paper and more especially that it supports SL Agritech’s efforts to continually innovate and develop hybrid rice here and abroad – a noble cause that so positively impacts the lives of many farmers who plant SL hybrid rice seed varieties.”
This fifth listing in PDEx brings the year-to-date total of new listings to PhP 46.375 Billion, pushing the total outstanding amount of listed corporate debt instruments to PhP 838.90 Billion, comprised of 137 securities issued by 47 companies.
Also present in the event were the senior officers from Multinational Investment Bancorporation, the issue manager and underwriter/arranger, led by its President Marilou Cristobal, Vice President Patricia Flores, and COO Dindo Caguiat. #