Philippine National Bank’s (PSE: PNB) investment banking arm, PNB Capital and Investment Corporation (PNB Capital), won three awards at The Asset Triple A Country Awards for Sustainable Finance 2022 held on February 23 at the Four Seasons Hotel in Hong Kong.
“We are humbled by these recognitions, and we are grateful for the continued trust and confidence of our clients,” said PNB Capital President Gerry Valenciano. “We also thank our parent bank, PNB, for the support it has given in all our undertakings. These awards further motivate us to continue working with the country’s top corporates and to support the Philippine economy through our sustainable finance initiatives.”
PNB Capital brought home the Best IPO award for Citicore Energy REIT Corp.’s (CREIT) Php6.4-billion IPO, where the bank acted as Joint Bookrunner and Lead Local Underwriter for the transaction. CREIT is the first renewable energy real estate investment trust in the country which aimed to solicit investors as partners to achieve a net-zero carbon future. The proceeds will be used to grow its renewable energy property portfolio via acquisitions to expand its current overall installed capacity of 145MW.
Likewise, PNB Capital was recognized for Best Transition Bond for SMC Global Power Holdings Corp.’s (SMCGP) Php40.0-billion Fixed Rate Bond, where it was the Lead Underwriter and Bookrunner. This is one of the largest corporate bond issuances to date on the Philippine Dealing and Exchange Corporation. This issuance received a strong demand from investors, adding an oversubscription of Php10.0 billion to the original issue size of Php30.0-billion. The company’s diversified energy portfolio, such as natural gas, coal, renewable energy, and battery energy storage systems, is a commitment to provide a reliable power supply for the country.
Furthermore, PNB Capital won the award for Best New Bond for the Cebu Landmasters, Inc.’s (CLI) Php5.0-billion Fixed Rate Bond where the bank acted as Co-lead Underwriter. CLI is a leading developer in Visayas and Mindanao with a distinguished brand in the real estate industry. This maiden bond issuance will further boost the company’s core residential business segments in vertical and horizontal housing projects which cater to various market segments.
The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury, and capital markets. With over two decades of conducting awards programs, The Asset Triple A Country Awards has expanded year-on-year, reflecting unparalleled industry understanding to be able to distinguish best-in-class organizations.