D&L Industries, Inc. Lists Maiden Issuance of Fixed Rate Bonds on PDExPosted on: September 14, 2021
14 September 2021, Makati, Philippines — D&L Industries, Inc., (DNL) a Filipino company engaged in product customization and specialization for the food, oleochemicals and other specialty chemicals, plastics and original design manufacturing industries, joined the PDEx Issuer Community today with the entry of its maiden listing, PHP 5 Billion 3 and 5 years Series A and B Fixed Rate Bonds pegged at 2.7885% and 3.5962% per annum, respectively, to be paid quarterly.
In his welcome remarks, PDEx President and CEO Antonino A. Nakpil said: “What a debut for your maiden offering, well-received by your new stakeholders, that is your bondholders, who have tendered bids totaling PHP 13.8 Billion or an oversubscription level equivalent to 4.6 times the initial offer size of PHP 3 Billion and bumping it to today’s PHP 5 Billion listing. Congratulations, indeed.”
It is noted that DNL is also the 5th issuer to utilize the e-Securities Issue Portal (e-SIP).
“We hope that you had a positive experience on the use of the e-SIP, which we are committed to improve and in fact are embarking on Phase 2 of development.”, noted Mr. Nakpil.
On his end, DNL President and CEO Alvin Lao assured their bondholders of a mutually beneficial relationship. “For over five decades, D&L has proven that it is no stranger to crisis and will continue to solidify its standing as the leading market player with its four principal businesses”, said Mr. Lao.
This 15th listing for 2021 brings the year-to-date total of new listings to PHP 154.99 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.38 Trillion issued by 54 companies, comprised of 195 securities.