EastWest Bank Lists on the PDEx Bourse the First Tranche of PhP 15 Billion Worth of LTNCTD Due 2023Posted on: June 7, 2018
07 June 2018, Makati Philippines – EastWest Bank returned to the PDEx bourse, after completing its Long-Term Negotiable Certificates of Time Deposit (LTNCTD) tranches last year, to celebrate the first of another set of tranches, this time for PhP 15 Billion worth of LTNCTD due 2023.
This tenth listing for 2018, the PhP 2.450670 Billion EW LTNCTDs Due 2023, brings the volume of new listings to PhP 82.81 Billion and the total level outstanding to PhP 875.33 Billion. As a group, the Filinvest Companies’ cumulative level of outstanding securities listed stands at PhP 56.25 Billion or 6.4% of the total volume of listed issues. The LTNCTD segment is a leader with EastWest Bank being the fourth bank to list its issues in PDEx this year.
EastWest Bank First Vice President and Distribution Group Head, Raul Victor M. De Guzman led the ringing of the bell, symbolizing the start of trading of the newly listed EW deposit instruments. He said: “Participating in LTNCDs is a commitment. It’s a long term relationship. We, at EastWest, have the responsibility and obligation to safeguard and nurture that relationship by prudently using the funds to create real value for our shareholders and our clients…”
For his part, PDEx President and COO Antonino A. Nakpil remarked: “We note the bank’s activity in the area of Lead Management / Arranging of corporate fixed-income issues last year, bringing in a number of corporate issuers into the public debt market. It certainly is not a stranger to our registered market and we do appreciate the keen support that EastWest has consistently provided, as a constant partner and active participant in all sectors of our Market Governance Board’s committees.”
The event was held at the PDS Assembly Hall and was graced by EastWest Bank Senior Officers including Senior Vice President and Wealth Management Head Abigail M. Del Rosario, Senior Vice President, Trust Officer and Chief Investment Officer Robert B. Ramos, and the Issue’s Sole Arranger and Selling Agent led by Unicapital First Vice President – Treasury Daisy S. Garcia.#