ORIX METRO Lists P4.16 Billion Fixed Rate Bonds on PDEx

ORIX METRO Lists P4.16 Billion Fixed Rate Bonds on PDEx

Friday, November 15, 2019

ORIX METRO marked a milestone in its 42-year track record in the leasing and finance industry when it listed Php4.16 billion worth of fixed rate bonds on the Philippine Dealing and Exchange Corp. (PDEx).

ORIX METRO President Constancio “Teting” Tan, Adviser to the Board Protacio “Ding” Bantayan, Jr., Director Shintaro Yamaji and Head of Treasury Division/First Vice President Victor Tiongson led the listing ceremony held on November 15 at BDO Equitable Tower in Makati City.

The maiden bond offering of Php2 billion was oversubscribed 2.2 times when it was launched on October 24, showing high market demand for the bond offer from ORIX METRO.

“We are grateful for the outcome which shows our clients’ trust and confidence in ORIX METRO,” said Mr. Tan. “The issuance is a testament to our Company’s strength and innovation that contributed to our sustained growth and profitability over the years”, he added.

The Company attributed the success of its bond market debut to its status as one of the country’s leading and most profitable leasing and financing companies, its strong shareholders and highlyexperienced management team. The issuance is the first tranche of ORIX METRO’s Php10-billion peso denominated debt securities program approved by the Board of Directors. It has an interest rate of 4.55 percent per annum to be paid quarterly over two years.

ORIX METRO has been assigned an issuer rating of PRS Aa plus (corp.) by the Philippine Rating Services Corporation (PhilRatings), an indication that it has a strong capacity to meet its financial obligations. ING Bank N.V. Manila Branch acted as sole arranger to the issuance, while First Metro Investment Corporation (FMIC), the investment banking arm of the Metrobank Group, was the company’s financial adviser and acted as selling agent together with Metrobank.