SL Agritech Corporation Lists PhP 1.57 Billion Commercial Paper on PDExPosted on: December 18, 2020
18 December 2020, Makati, Philippines — SL Agritech Corporation (SLAC) lists PHP 1.57 Billion Commercial Paper on Philippine Dealing & Exchange Corp. (PDEx). The SLAC Series M and Series N Commercial Paper were pegged at a discount rate of 4.2500% and 4.7500%, respectively.
PDEx President and CEO Antonino A. Nakpil remarked, “This is now SL Agritech’s sixth listing on PDEx and it is a pleasure to see it become a consistent returnee, if you will, to the public debt market.”
“Each return of the Lim family is for us is a reminder of the PDS Group’s mission in the Philippine financial market, that is, especially help home-grown Issuers like SL Agritech enjoy the benefits of the funding support of its loyal investors, and in turn powering it to continue improving the lives of the many farmers and families that benefit from its products,” added Mr. Nakpil.
For his part, SLAC Chairman, President, and CEO Henry Lim Bon Liong said, “With the increase in demand for our seeds and rice, most of the proceed of this Short Term Commercial paper will be used to help farmers grossly affected by the recent development, to shift to hybrid rice seed technology. It will help us expand our production capability and our market reach.”
This 36th listing for 2020 brings the year-to-date total of new listings to PHP 387.83 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.47 Trillion issued by 57 companies, comprised of 207 securities.
PDEx Press Release_SLAC Commercial Paper