PDEx Welcomes the Local Debt Market’s Newest Issuer, PHINMA CorporationPosted on: August 20, 2021
20 August 2021, Makati, Philippines — PHINMA Corporation (PHN), a business focused on construction materials, property and hospitality, and education, joined the PDEx Issuer Community with the entry of its maiden listing of PHP 3 Billion 3-Year Fixed Rate Bonds Due 2024. The bond carries a coupon rate of 3.5335% to be paid quarterly.
The PHINMA Group has, for almost 65 years, been contributing to the Philippine infrastructure development.
PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “The trust of PHINMA’s bond investors was apparent in what we have been advised was an order book of PHP 26.6 Billion or 13.3 times the original issue size of PHP 2.0 Billion. Congratulations indeed on this inaugural listing.”
“In PHINMA’s case our role is to facilitate your strategic funding so you continue “Making Lives Better”. As we have seen with other members of our Issuer Community, your instruments make your investors lives better indeed.”, added Mr. Nakpil.
Meanwhile, PHINMA Corp. President and CEO Ramon R. del Rosario, Jr. stated: “The pandemic has undeniably resulted in significant challenges to our businesses. And I believe that PHINMA was able to prove its resiliency and strategically adapt through agility, innovation and our fervent desire to improve the quality of life of all Filipinos.”
“The proceeds from this bond offering will go towards investments to further accelerate the growth of our core businesses that are focused on aiding our nation’s economic recovery.”, disclosed Mr. del Rosario.
Mr. del Rosario further added: “This bond issuance marks the first of many capital market transactions to come for the PHINMA Group. I believe that the demand we have received from this issuance is a testament to the market’s continued belief in PHINMA.”
This 14th listing for 2021 brings the year-to-date total of new listings to PHP 149.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.39 Trillion issued by 53 companies, comprised of 198 securities.