8990 Holdings Lists Maiden Bond Issues on the PDEx Organized Secondary Market
Makati—(PHStocks)—8990 Holdings Inc. (PSE: HOUSE) joined the issuer community of the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market with its maiden listing of PhP9 billion HOUSE Fixed Rate Bonds due 2020, 2022, and 2025.
A strong demand for the 8990’s first bond issue was exhibited by the investing community, expanding the initial offer of PhP5 billion to a total of PhP9 billion in face amount.
As a PSE-listed corporation and one of the Philippine’s largest home builders for the masses, 8990 Holdings has expanded its product lines from providing solid, affordable, and accessible housing to developing malls and medium-and-high-rise condominium projects intended for the working class Filipino. Following a similar path, the firm is now also diversifying its sources of long-term financing with these bond issues.
8990 Holdings Chairman Mariano D. Martinez remarked: “In May of 2014, we brought our company public so that the investing public may also share in the fruits of our labor. And now in July 2015, only 14 months from our PSE listing, we have successfully issued our 8990 Fixed Rate Bonds that is carried on the shoulders of 10,000 homebuyers. I am told by many that this singular financial feat has secured for 8990 a historic first in the annals of Philippine bond issuances. If this is indeed true then we are proud to say that not only is the Filipino worth housing for but he is also worth investing in.”
PDS Group president and CEO Cesar B. Crisol said, “We laud 8990 Holdings for providing shelters to the larger mass of Filipino families it serves to now offering its new set of stakeholders, its bondholders, long-term investments supported by the framework of an organized and registered secondary market.”
This listing of HOUSE PhP9 billion fixed rate bonds is the sixth for 2015, bringing the year-to-date total of new listings to PhP45.39 billion and the total outstanding listed issues to PhP484.78 billion.
The event was held at the PDS Group Assembly Hall and was graced by 8990 Holdings Directors: Chairman Emeritus Luis N. Yu Jr.; President and CEO Januario Jesus B. Atencio III; Director Raul Fortunato R. Rocha; and Director Willibaldo J. Uy.
Representatives from the underwriters and issue participants also attended the event, including BDO Capital & Investment Corporation President Eduardo Francisco; First Metro Investment Corporation First Vice President Franz Bonoan; SB Capital Investment Corporation Director Martin Villalon; China Banking Corporation Vice President Manuel San Diego; Security Bank Corporation Senior Vice President Jeanette Keh, BDO Trust and Investments Group Vice President Susan Atienza, BDO Unibank, Inc. Senior Executive Vice President Walter Wassmer, Metropolitan Bank & Trust Company Executive Vice President Mylene Capras, and Development Bank of the Philippines Corporate Banking Sector Head Lilia G. Baun.
