PNB scores triple win in The Asset awards
The Asset Triple A Country Awards 2018 recognized Philippine National Bank (PSE:PNB) with three distinctions in the awarding ceremony held on January 24 at the Four Seasons Hotel Hong Kong.
Lenders PNB and PNB Savings Bank were recipients of the Best Syndicated Loan award for the Bloomberry Resorts and Hotels’ Php73.5-billion syndicated term loan facility. The Asset cited the transaction as“one of the largest corporate syndications ever arranged in the Philippine debt market”.
PNB and investment arm, PNB Capital and Investment Corporation, garnered an award for Best Acquisition Financing as lender and lead arranger, respectively, of the Clark Global Corporation’s USD690-million acquisition project. The transaction was dubbed by The Asset as “unprecedented in the Philippine capital market for its combination of deal size, complexity, number of varied parties with different interests, and the timeline to execute such a deal”.
Meanwhile, PNB Capital bagged another award as one of the lead underwriters and bookrunners for Ayala Land’s Php10-billion retail bonds, which won as Most Innovative Deal. The offering was the first-ever corporate bond with a repricing structure during the life of the bond.
As part of its mandate of being a customer-focused universal bank, PNB participates in financing projects that help boost the nation’s economy. The bank aims to be at the forefront of the capital markets by being a financial partner of the country’s top corporates.
The Asset awards are Asia’s preeminent recognition for those that have excelled in their respective industries. With close to 20 years of experience conducting awards programmes, The Asset has gone from strength to strength in distinguishing best in class organizations and individuals.