MEGAWORLD Corp.’s P30-billion bond issue bagged the “Top Traded Corporate Bond Issue of the Year” given by the Philippine Dealing System Group held during its annual awards night in Makati City.
The property development firm of businessman Andrew Tan was among the top 22 awardees for this year in the event, attended by hundreds of market participants and stakeholders across different sectors of the financial market.
The recognition was awarded to the company due to its exceptional bond trading performance that helped expand its rental portfolio among various township developments across the country.
Last year Megaworld issued the first tranche of its P30-billion bond shelf registration with the Securities and Exchange Commission.
The issuance was assigned the rating of “PRS Aaa” by the Philippine Rating Services Corp., which indicated minimal credit risk on the part of the issuer and likely to remain unchanged in the next 12 months.
The rating denotes that such obligations are of the highest quality with minimal credit risk, and that the issuer’s capacity to meet its financial commitment on the obligations is extremely strong. The PDS Annual Awards is held to honor the top performers in the financial community. This year, the event was graced by the capital-market regulators, including Bangko Sentral ng Pilipinas Assistant Governor Restituto C. Cruz, SEC Commissioner Ephyro Luis B. Amatong and National Deputy Treasurer Sharon P. Almanza.