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Home » Listing Ceremonies » China Bank Lists PhP 10.250 Billion LTNCTD Due 2024 in PDEx

China Bank Lists PhP 10.250 Billion LTNCTD Due 2024 in PDEx

Posted on: July 12, 2018

CHIB Photo Release

12 July 2018, Makati Philippines – China Banking Corporation (China Bank) returned to the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market to list its PhP 10.250 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2024, the largest single LTNCTD issuance for the year.

China Bank’s latest LTNCTD issue is the initial tranche of its approved PhP 20 Billion LTNCTD shelf issue and the 12th listing in PDEX for 2018, bringing the year-to-date total of new listings close to a PhP 100 billion mark.

With this third trip to the PDEx platform, China Bank shall now have a total outstanding listed issue amount of PhP 26.19 Billion, pushing the SM Group’s total volume of listed bonds in PDEx to PhP 191.02 Billion, or 21% of the total outstanding face amount of PhP 891.23 Billion of corporate bonds listed and enrolled at PDEx.

China Bank’s Chief Operating Officer Romeo D. Uyan, Jr. and Chief Finance Officer Patrick D. Cheng led the ringing of the ceremonial bell. In his message, Uyan said: “Our strategic and well-timed fund raising via LTNCDs will enable us to support our business expansion plans and create more value for stakeholders….but more importantly, issuing LTNCDs affirms our commitment of providing customers with higher yielding investment alternatives to help them make the most of their hard-earned money.”

For his part, PDS Group President Cesar B. Crisol commended China Bank’s consistent presence in the local debt market as it has not missed a year without an issuance since its maiden listing in November 2016.

“Now closer to a century of active contribution to the country’s financial landscape, China Bank remains a key participant in the ongoing economic expansion of the country,” remarked Mr. Crisol.

The event was attended by China Bank Chief Finance Officer Patrick D. Cheng, China Bank Capital Managing Director Virgilio O. Chua, and the Issue’s Sole Arranger, Bookrunner and Selling Agent led by The Hongkong and Shanghai Banking Corporation Limited CEO Jose Arnulfo A. Veloso. #

Press Release – CHIB LTNCTD Due 2024 FINAL

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