PH bond listings hit record high after Cebu Holdings


Following the listing of Cebu Holdings Inc.’s (CHI) P5 billion fixed-rate bonds on Friday, bond listings on the Philippine Dealing & Exchange Corp. (PDEx) for this year have a reached record high, the exchange said.

“We are proud to announce that with the listing of CHI’s P5-billion bonds due 2021, we already exceeded the total amount of listings in the banner year of 2012, hitting a total volume of P114.8 billion new listings [in 2014],” Cesar Crisol, chairman and chief executive officer of PDEx, said during a listing ceremony held in Makati on Friday.

“This makes 2014 a record year for new listings and we are still only in the first half of the year,” Crisol added.

The first time that overall bond listings reached the P100-billion level was in 2012 when it ended at approximately P110 billion.

As of today, the total outstanding amount of corporate bonds listed is P425.76 billion.

“We are pleased to welcome the newest member of our issuer community, Cebu Holdings, Inc., with its maiden debt issuance and listing in the PDEx bourse,” Crisol further said.

“We laud Cebu Holdings, Inc. for bringing its bonds for secondary trading and recognizing the prospects of a transparent and orderly secondary market,” he added.

A subsidiary of Ayala Land Inc. (ALI), CHI is the premier developer in Cebu with projects including the Cebu Business Park, the largest operating integrated mixed-use IT park in the country.

In an earlier disclosure to the Philippine Stock Exchange, ALI said that CHI has raised as much as P5 billion from the maiden sale of seven-year bonds priced at 5.32 percent per year.

Proceeds from the offer, according to ALI, will be used by CHI to finance projects and land banking activity.


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