11 July 2024, Makati, Philippines — Megawide Construction Corporation (MCC) one of the country’s largest and most diversified conglomerates returns to the capital debt market for the listing of its PHP 5 billion Series C Fixed Rate Bonds Due 2027, Series D Fixed Rate Bonds Due 2029 and Series E Fixed Rate Bonds Due 2031.

PDS Group’s treasurer Ms. Stephanie Zulueta welcomed the team back on behalf of PDEx President and CEO Antonino Nakpil.  Megawide returns to the capital market after its initial debt listing back in 2022.  Zulueta commended the firm for its commitment in addressing national problems through its various projects – “Megawide’s efforts to tackle Metro Manila’s persistent transport challenges and address airport infrastructure needs and adding the Metro Manila Subway project shows its continuing dedication to transforming urban mobility.”

Zulueta also added that the issuance, which gained an oversubscription among investor base showed a good start for the first ten days of the month – “…these first ten days of July do indicate a ‘fire burning and a cauldron a-bubbling’ in the secondary market for which the primary market participants may closely follow.”

Securities and Exchange Commission Chairman and CEO, Hon. Emilio Aquino expressed his confidence to see the continuous growth of the country’s capital market through this issuance. “The SEC is positive that the additional funding from this offering will add value to our capital markets and the expansion of the Philippine residential infrastructure and land development market. We are delighted to see the continuous growth of our country’s bond market and we look forward to see more property and infrastructure projects flourishing in the Philippines.”

Megawide Construction Corporation’s Chairman, CEO and President, Mr. Edgar Saavedra extended his gratitude to all the market participants who made the issuance possible, and the listing’s impact to the company’s growth.  “We refocused our business to more scalable platforms that also offer synergies within our value chain and unlock new opportunities.  We may have shifted our portfolio, but our vision remains the same and our commitment stays strong.  Today we are listing our series C, D, and E Fixed Rate Bonds, this capital raising is a key element in sustaining our company’s growth areas of businesses, and to our long-term liability management program.”

This is the 10th admission for 2024 and brings the year-to-date total of new listings to PHP 150.14 billion and the total outstanding amount to PHP 1.13 trillion issued by 41 companies, comprised of 167 securities.