BankCom Lists PhP 5.03 Billion LTNCTDs on PDExPosted on: March 17, 2020
17 March 2020, Makati, Philippines — Bank of Commerce (BankCom), an affiliate of San Miguel Corporation, lists its PhP 5.03 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTDs) Due 2025 on the Philippine Dealing & Exchange Corp. Proceeds from the issued LTNCTDs, which have a tenor of 5.5 years and quarterly coupons priced at 4.50%, will support BankCom’s business expansion plans.
The Sole Bookrunner of the issuance is Standard Chartered Bank. Philippine Commercial Capital, Inc. and Standard Chartered Bank were the Joint Lead Arrangers while Bank of Commerce and Standard Chartered Bank acted as Selling Agents.
This 11th listing for 2020 brings the year-to-date total of new listings to PhP 98.57 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 56 companies, comprised of 201 securities.