The Asset awards First Metro Investment Corp Best Domestic Bond House in the Philippines

Feb 07, 2012 19:30 JST

Source: First Metro Investment Corporation

MANILA, Feb 07, 2012 - (ACN Newswire) - First Metro Investment Corporation has been voted as the Best Domestic Bond House in the Philippines by Hong Kong-based The Asset Publishing and Research Ltd. in its Triple A Country Awards for 2011.

First Metro was cited for its leadership in the Philippine domestic bond market in the covered screening period, participating in the issuance of P637.4 billion bonds or 96.2 percent of the total bond issuances.

It is the third consecutive year the company received the award. First Metro was also recently awarded Best Bond House by FinanceAsia, another leading financial publication in the region.

The company handled a well-balanced and diversified portfolio based on the wide range of industries it served in the private sector which included power and utility corporations, holding companies, property, hotel and leisure companies, financial institutions, as well as food and beverage companies.

In 2011, First Metro arranged the P5.0-billion 5-year floating rate notes of SM Prime Holdings, Inc., the P10.0-billion 5-year and 10-year notes of Manila Water Company, Inc., the P800.0-million fixed and floating rate notes of Pancake House, Inc., the P5.0-billion 5-year notes of Aboitiz Power Corporation, the P4.0 billion 7-year notes of Rockwell Land Corporation, and the P11.0-billion 10-year notes of Beacon Electric Asset Holdings, Inc..

It also introduced two property development companies to the domestic capital market with the maiden issuances of 5-year corporate notes of Property Company of Friends, Inc. worth P1.5 billion and of Federal Land, Inc. valued at P6.6 billion.

First Metro also participated in the fund-raising projects of the Republic of the Philippines. The company was joint deal manager in the two most recent Domestic Debt Consolidation Programs of the Republic - P199.5 billion in December 2010 and P323.4 billion in July 2011 - which were two of the largest domestic bond swap transactions to-date. These helped smoothen the Republic's debt maturity profile by significantly reducing debts, and creating a liquid benchmark for long-term financing to support Public-Private Partnerships (PPP) in infrastructure projects.

Contact:

Anna Marie Tuprio
Corporate Planning & Affairs Department 
Tel: +63-2-858-7951       
E-mail: marie.tuprio@firstmetro.com.ph

Source: First Metro Investment Corporation
Sectors: Daily Finance

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