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8990 Holdings, Inc. Enrolls PHP 1.3 Billion Fixed Rate Notes Due 2022 on PDEx
Posted on: October 14, 2020
14 October 2020, Makati, Philippines — The local debt market welcomed back 8990 Holdings, Inc. (HOUSE) for the enrollment of its PHP 1.3 Billion Fixed Rate Notes Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The Notes were priced at 4.0500% per annum, with interests to be paid on a quarterly basis.
PDEx President and Chief Executive Officer Antonino A. Nakpil opened the event by welcoming the guests in the enrollment ceremony.
“We are delighted to welcome 8990 Holdings, Inc. back for this enrollment of PHP 1.3 Billion Fixed Rate Notes. It has been five years since 8990 Holding’s debut in the local debt market, and we happily celebrate its return today,” said Mr. Nakpil.
Mr. Nakpil also shared his positive sentiment towards the enrollment program as more issuers have been maximizing and seeing the benefits of the debt market platform.
“This enrollment is the second for the year, and we are most happy to see the enrollment program gain traction as a fast-track, alternative funding facility for Issuers and Qualified Investors,” added Mr. Nakpil.
HOUSE Treasurer Richard L. Haosen remarked, “Providing affordable housing has always been at the core of 8990’s operations. Despite the pandemic, our commitment to this remains strong. The company continues to deploy cash to operations and grow its business in key regions across the Philippines. This includes our 20 ongoing projects nationwide which will contribute to this year’s topline.”
Mr. Haosen also acknowledged and thanked the stakeholders who supported their issued notes.
“As we move forward, we hope you would continue to be our partners in realizing the dream of every Filipino of owning his own home,” said Mr. Haosen.
The virtual event was also attended by the Sole Issue Manager, Lead Arranger, and Bookrunner BDO Capital and Investment Corporation President Eduardo V. Francisco, and Co-Arranger RCBC Capital Corporation First Vice President Xavier Zialcita.
This 28th listing for 2020 brings the year-to-date total of new listings to PHP 314.13 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 55 companies, comprised of 203 securities.