Globe Telecom to list retail bonds at PDEx
06/09/2009 | 04:23 PM
MANILA, Philippines - Starting June 10, fixed rate bonds of Globe Telecom Inc. will be traded at the Philippine Dealing and Exchange Corp. (PDEx), allowing investors to determine price of their securities.
The Ayala-led telecommunications company undertook an agreement with PDEx to list its three- and five-year bonds falling due on 2012 and 2014, respectively, Globe Telecom said in a disclosure to the Philippine Stock Exchange (PSE).
PDEx operates and maintains the trading system for government securities and other debt instruments.
Globe, which was able to raise P13 billion since early this year, said it is “excited to be part of PDEx," Delfin C. Gonzales Jr., the company’s chief finance officer, said.
The partnership “will provide our investors an efficient and transparent platform for the trading of our bonds. This will generate increased liquidity that will translate to better pricing for our investors," he said.
The retail bonds to be listed were issued in February with a coupon rate of 7.5 percent and eight percent, respectively for three- and five-year notes.
Globe Telecom is pleased the credit markets continue to have confidence in the company as reflected by the strong demand for its retail bond issue, which was oversubscribed, and its continued access to credit at "very competitive rates," he said. - GMANews.TV
The Ayala-led telecommunications company undertook an agreement with PDEx to list its three- and five-year bonds falling due on 2012 and 2014, respectively, Globe Telecom said in a disclosure to the Philippine Stock Exchange (PSE).
PDEx operates and maintains the trading system for government securities and other debt instruments.
Globe, which was able to raise P13 billion since early this year, said it is “excited to be part of PDEx," Delfin C. Gonzales Jr., the company’s chief finance officer, said.
The partnership “will provide our investors an efficient and transparent platform for the trading of our bonds. This will generate increased liquidity that will translate to better pricing for our investors," he said.
The retail bonds to be listed were issued in February with a coupon rate of 7.5 percent and eight percent, respectively for three- and five-year notes.
Globe Telecom is pleased the credit markets continue to have confidence in the company as reflected by the strong demand for its retail bond issue, which was oversubscribed, and its continued access to credit at "very competitive rates," he said. - GMANews.TV
