Cirtek Returns to PDEx with its PHP 1 Billion Commercial PaperPosted on: April 28, 2021
28 April 2021, Makati, Philippines — Cirtek Holdings Philippines Corporation (TECH) returns to the local debt market today for its second listing since their maiden issuance in 2020. TECH listed its PHP 1 Billion Series D and E Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx), the first tranche of TECH’s PHP 6 Billion Commercial Paper Program. The TECH Series D and E Commercial Paper were pegged at a discount rate of 4% and 4.25%, respectively.
PDEx President and CEO Antonino A. Nakpil said: “Significantly, with this listing Cirtek joins the company of returning Issuers, with the experience, which we hope is a good one, of an Issuer now able to include public funding within its strategic or tactical funding plans”
“Each successful return to the public market allows our Issuers to reaffirm the confidence of their supportive bondholders, and make very real that intangible asset, the trust of investors”, added Mr. Nakpil.
This 6th listing for 2021 brings the year-to-date total of new listings to PHP 60.24 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.43 Trillion issued by 54 companies, comprised of 203 securities.