CHINA Bank Capital Corp. solely or jointly arranged nearly P150 billion worth of debt capital transactions in the second half, securing the biggest market share among bookrunners.
In a disclosure on Monday, the China Banking Corp. wholly-owned subsidiary said the transactions it arranged in the last six months included corporate bonds, notes and other debt securities.
“China Bank Capital’s strong performance is motivated by a constant drive to deliver the best results to our clients, and we are pleased to have successfully closed many landmark transactions that helped not just private companies, but also the government and the broader economy,” China Bank Capital President Ryan Martin L. Tapia said.
China Bank Capital said it was involved in the most number of local currency and dollar-denominated fixed income issuances this year again.
As of December, it has a market share of 30.5 percent. This year, the investment bank was a joint lead arranger for the Bureau of the Treasury’s retail treasury bond offering amounting to P310.8 billion and Premyo Bonds 2.
China Bank Capital was also involved in the P10-billion fixed rate bond transaction by Ayala Land Inc. launched and issued during the early community quarantine period.
Other corporate issuances that it participated in were from Aboitiz Power Corp., Robinsons Land, SM Investment Corp., Ortigas & Co., Del Monte Philippines, Filinvest Land Inc., San Miguel Corp., Development Bank of the Philippines and China Bank.
The investment bank was tapped to be the lead arranger, joint lead underwriter and sole bookrunner for the P20-billion corporate notes facility by North Luzon Expressway Corp. In addition, it was also engaged in Puregold Price Club Inc.’s P12-billion fixed rate corporate note issuance.
Parent firm China Bank recently announced its partnership with MultiSys Technologies Corp. to beef up its digital offering for corporate clients. The software solutions firm will be providing solutions to boost its cash management capabilities, including expanding the bank’s electronic collection channels and e-commerce solutions.
The bank was also able to keep its Baa2 rating with stable outlook from debt watcher Moody’s Investor Service amid the current economic slowdown as activities were tempered by the restrictions. China Bank’s investment grade rating, which is at the same level as the Philippine sovereign rating, covers the long-term foreign currency counterparty risk and long-term foreign currency deposit.
In the first three quarters, China Bank grew its net earnings by 23 percent to P8.2 billion on the back of its robust core businesses. China Bank shares fell 1.39 percent, or 35 centavos, to end at P24.85 apiece amid the 1.14-percent plunge for the main index on Monday.