PDEx eyes P600B in bond issuances this year

THE PHILIPPINE Dealing and Exchange Corp. (PDEx) is eyeing to generate P600 billion in corporate bond issuances this year after missing its target for 2024, according to its president.

“We’ll be refocusing it again, but right now, the budget is for P600 billion,” PDEx President and Chief Executive Officer Antonino A. Nakpil told reporters on the sidelines of a Financial Executives Institute of the Philippines (FINEX) event on Monday.

This will exceed the record P508 billion raised in 2022 if the target is met.

However, Mr. Nakpil said the target may be adjusted based on company plans and the impact of geopolitical risks.

“We’re not sure of the P600 billion. We’ll be refocusing. We’ll see whether it’s reachable this year,” he said.

“Everybody’s looking at geopolitical stuff. No one wants to make any plans. But what we’re finding is that everybody talks about inflation, interest rates going here or there,” he added.

Mr. Nakpil said that refinancing initiatives are driving efforts to achieve the target.

“We think most of it is refinancing. The ones who were planning late last year, they’re coming into this first quarter of 2025. We’ll see them starting February,” he said.

“I think we have three or four to start. Still the same folks. Banks and real estate are coming in,” he added.

He also said PDEx is refocusing its efforts to cater to micro, small, and medium companies.

“We’re refocusing our efforts on that. We’ll try to digitalize the process, then we’ll aim for smaller amounts, which is what the micro, small, and medium scale like,” he said.

“Then we’ll try to bring them together with what we call qualified investors,” he added. — Revin Mikhael D. Ochave