…complete financial market infrastructure, creating value for our stakeholders and abiding by the highest standards of market governance and international best practice OFFICIAL STATEMENT 12 December 2014 CONTACT [email protected] (632) 884 5000 PHILIPPINE NATIONAL BANK DEBUTS IN THE ORGANIZED MARKET, WITH MAIDEN LISTING PHP 7 BILLION LTNCTDS DUE 2020 From left to right: Philippine Dealing & Exchange Corp. President Antonino A. Nakpil, First Metro Investment Corporation Vice President Peter Anthony D. Bautista, Philippine National Bank (PNB) EVP and Treasury Group Head Horacio E. Cebrero III, PNB President Reynaldo A. Maclang, PDS Group President & CEO Cesar B. Crisol, The Hongkong and Shanghai Banking Corporation Limited President & CEO Arnulfo A. Veloso, Multinational Investment Bancorporation President Marilou Cristobal, Philippine Depository & Trust Corp. Ma. Theresa B. Ravalo 12 December 2014 – The Philippine National Bank debuted in the organized secondary market to herald the start of trading for its PhP 7 Billion Long-Term Negotiable Certificates of Time Deposit due 2020. The five-and-a-half-year LTNCTDs, which were at least 2.25 times oversubscribed, were pegged at the final rate of 4.125 percent per annum. Interest will be paid quarterly and will be tax exempt for qualified individuals, if held for at least five years. The net proceeds of the issue of the CDs, after deducting fees, commissions, and other related expenses will be utilized to finance asset growth and other general corporate purposes. PNB’s maiden listing is the eighteenth for the year, bringing the year-to-date total of new listings to PhP 189.75 Billion and the total level of tradable corporate debt instruments to P468.21 billion issued by 31 companies with 87 securities. Philippine Dealing System Holdings Corp. & Subsidiaries • Philippine Dealing & Exchange Corp. • Philippine Depository & Trust Corp. • Philippine Securities Settlement Corp. • PCD Nominee Corp. • PDS Academy for Market Development Corp. …complete financial market infrastructure, creating value for our stakeholders and abiding by the highest standards of market governance and international best practice Coming into the market as an Issuer for the first time, PNB is not new to the secondary market and has established its reputation as a key participant in fixed income activities. In the league tables for the Annual PDS Awards, PNB ranked third among the Top Fixed Income Brokers of 2013. The Bureau of the Treasury has also recognized PNB as one of the top ten Government Securities Eligible Dealers in 2013. PDS Group President & CEO Cesar B. Crisol said: “With the new guidelines of the BSP for the LTNCTD market, we note how PNB has again welcomed the change and is proactively participating in this endeavour to provide investors not only with a wider array of investment instruments with transparency. We, at the Exchange, are certain that the investors of PNB will enjoy the robust growth and ample liquidity available in the organized secondary market.” PNB EVP and Treasury Group Head Horacio E. Cebrero III said: “We give our unwavering support to the efforts of our regulators in the development in the capital markets. The listing of the just concluded successful Peso LTNCTD issuance and future debt issuances of the bank will not only be consistent with the objective of the bank to collaborate with our regulators but also shows our firm commitment to our investing public in providing them an efficient vehicle in the way they access the capital markets.” PNB Directors and Issue Underwriters graced the event, including PNB President Reynaldo A. Maclang, The Hongkong and Shanghai Banking Corporation Limited President & CEO Arnulfo A. Veloso, First Metro Investment Corporation Vice President Peter Anthony D. Bautista, and Multinational Investment Bancorporation President Marilou Cristobal.# Philippine Dealing System Holdings Corp. & Subsidiaries • Philippine Dealing & Exchange Corp. • Philippine Depository & Trust Corp. • Philippine Securities Settlement Corp. • PCD Nominee Corp. • PDS Academy for Market Development Corp.