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Laica L.

Valderas

BDO raising $700M in historic debt issuance


By: Doris Dumlao-Abadilla - Reporter / @philbizwatcher
Philippine Daily Inquirer / September 04, 2017

BDO Unibank, the countrys largest lender, is raising $700 million from an offshore medium-term senior
debt notes offering, marking the largest single debt issuance by a Philippine bank to date.

The notes maturing in 5.5 years will be issued at a price of 99.909 per 100 and will have a coupon of 2.95
percent per annum, BDO said in a press statement on Wednesday.

The senior note issue is part of the banks liability management initiatives to tap longer-term funding
sources to support BDOs lending operations and general corporate purposes, the bank disclosed to the
Philippine Stock Exchange on Thursday.

The transaction was overwhelmingly oversubscribed, with orders reaching $2.2 billion, BDO said,
reporting wide distribution of the notes across Asia Pacific and Europe. The settlement will be on Sept. 6,
2017.

This issuance is the second offering under BDOs $2-billion medium-term note (MTN) program set up in
2012. BDO had tapped an initial $300 million from this program in October last year.

The MTN is a type of debt program that allows an issuer like BDO to tailor-fit its debt issuance to its
financing needs.

The new notes to be issued by BDO were rated Baa2, the ninth highest rating on the scale of international
credit watcher Moodys. This is the same rating that the Philippine government received from the debt
watcher.

Moodys said its credit rating of Baa2 had taken into account BDOs domestically focused, prominent,
and growing franchise; stable asset quality and loss-absorbing buffers; sufficient capital levels that exceed
regulatory minima; stable profitability, supported by a gradual expansion in its net interest margin and
robust funding and liquidity profiles.

It has taken into account, however, downside risks to loan quality posed by a relatively unseasoned loan
book and high concentration in the manufacturing sector.

BofA Merrill Lynch, HSBC and Wells Fargo Securities acted as joint lead managers and joint
bookrunners, while Mizuho Securities and MUFG acted as co-managers for the transaction.
BDOs latest issuance will be listed on the Singapore Stock Exchange.

Following a successful P60 billion ($1.2 billion) stock rights offer in January 2017 alongside retained
earnings, BDOs capital base expanded to P289 billion, with capital adequacy ratio (CAR) and common
equity tier 1 ratio at 15.7 percent and 14 percent, respectively.

Led by the SM group, BDO has one of the largest distribution networks among Philippine banks, with
more than 1,100 operating branches and over 3,700 automated teller machines nationwide. It also has a
full-service branch in Hong Kong and 26 overseas remittance and representative offices in Asia, Europe,
North America and the Middle East.
Laica L. Valderas

PSEi ends flat; Ayala firms lead gainers


By: Doris Dumlao-Abadilla - Reporter / @philbizwatcher
Philippine Daily Inquirer / September 04, 2017

The main-share Philippine Stock Exchange index (PSEi) added a meager 1.84 points or 0.02
percent to close at 7,958.57 while upbeat US and China economic data perked up regional markets.

Philippine stocks finished flat on the last trading day of the month while US stocks rose on
Wednesday as momentum sectors such as the technology sector climbed, said Luis Gerardo
Limlingan, managing director at Regina Capital Development.

Strong US macro data added strength to the dollar and put optimism over the labor market data
to be released tomorrow, Limlingan said.

Today, financial markets will be closed in observance of the Islamic Feast of Sacrifice (Eidl
Adha).

The slight increase was led by the financial, services and mining/oil counters. On the other hand,
the industrial, holding firm and property counters slipped.
Value turnover for the day amounted to P11.26 billion. There was net foreign buying amounting
to P426.13 million.

There were 101 advancers that edged out 84 decliners while 63 stocks were unchanged.

The days gains were led by Ayala Corp. and its banking arm BPI, which both rose by more than
2 percent, while Semirara and Petron both gained over 1 percent.
Aboitiz Equity Ventures, Security Bank, Metrobank, Energy Development Corp. and Megaworld
also contributed to the PSEis gains.

Outside of the PSEi, notable gainers included Manila Water (+2.58 percent) and Bloomberry
(+0.72 percent).
On the other hand, SM Investments and URC fell by more than 1 percent while BDO, SM Prime,
ICTSI and GT Capital also slipped.
Do I Still Have Any Reason to Live?

By: Aid

Name? Maria Anna Rihanna I. Alonzo. Everyone calls me Maria. Not only
because it's my first name, but also because it's what my initials spell out. 18
years of age. I guess it will end in that number. I'm about to die anyway. I
shall cut myself with this razor, or maybe yet jump from the top of this
establishment!

Do I still have any reason to live? Everyone sees me as a worthless woman of


this world. They say I have never done anything good. Depressing, isn't it?
Why should I carry this heavy burden all throughout my entire life? Living in
this world is like being subjected to eternal damnation. You want to know
why it turned out like this? By looking at your baffled expressions, I can see
that you desire to know about my decision in terminating this life of mine.

Well, Ladies and Gentlemen. Please listen carefully to the story of my life.

People brand me as a juvenile delinquent. I am merely a teenager. Young in


both mind and body. Vulnerable to mistakes and immaturity. In my current
state, I am carefree. I swim in the pool of pleasure. I rarely go to school. You
could easily spot me at the nearby street. Smoking, singing at the nearby
videoke machine or just looking at the cute guys passing by.

Parents? Hmm. They exist?! I don't even know that they're there. There was
this time when I asked Mom about my Science assignment.

She answered [GOD]DAMN IT! CAN'T YOU SEE I'M BUSY PREPARING FOR MY
TONG-ITS?!

Yes, she was always busy with Mahjong, Tong-its. Those kinds of games. I
asked Dad the same question.

He answered ngrrhh Here's a hundred bucks. Go ask your neighbor or your


hot teacher. ngggrrrrhh

Father was drinking with the neighbors, as usual.

I never had the best grades in school. Still in Grade 4, I never really excelled
in any part. One time, I was asked by my teacher to answer a math problem.

Ms. Alonzo! Answer this. 90 divided by 10. My teacher told me.


I couldn't answer. I don't know the answer. I don't know how to get the
answer. Hoping for Lady Luck to save me, I guessed.

19?

Each one of my classmates laughed at my stupidity.

STUPID IDIOT! IT'S 9!


How Dumb of you!! Go home and wash your filthy clothes!
Better yet. Wash your brain
That is, if she has one.

Hysteric laughter filled the small room. I was humiliated, embarrassed,


ashamed. Me, the oldest person of the class, could not even answer a simple
mathematical problem.

My teacher yelled You can't even divide 90 by 10! Why bother coming here
when you don't even learn? Just go home worthless imbecile!

That is how my school life's like.

Friends? I have none. Every one of them loathes me. I tried approaching one.

I said with a calm approach. Hi there! Can you be my friend?


She replied HELL NO! I'd rather be fat and ugly than being friends with a
stupid girl who can't even divide 90 by 10

I also asked other people and the replies I got were:

EW.
Why should I?
There is no reason why I should befriend a person like you.
If I were you, I'd take a bath. You look and smell disgusting.

this and that, this and that. Guhh. No one wants to be near me

Each time I hear of such jeers from everyone around me, I weep in
depression. What have I done to deserve this kind of castigation? Why did
God forsake everything from me?

Though I may have the face of Nicole Kidman, the body of Scarlett Johanson
and the voice of Taylor Swift (sing Through the Rain), what you see is not
always what you get. What I am is a young misled teenage girl, in need of
someone to counsel her, to enlighten her way and to guide her towards the
right path. Throughout my 18 years of living, I have never encountered that
someone. I guess, there may be no reason for me to live. Now, I ask for your
judgment.

Honorable judges, teachers, friends... Do I still have any reason to live?

(Hallucinations)

This isn't happening.


This isn't happening.
This... This isn't... This isn't happening. I am not hallucinating. I'm not! I'm not
crazed. I'm not paranoid...
...or am I?
You are paranoid.
No, no. I'm not paranoid! I'm perfectly fine. My mind's OK. I'm thinking
straight. And I've never killed anyone so why ---
You've done it. You've killed her. Don't say, "Never." You murdered an innocent
woman. It's your fault.
No, no, NOOOO. It's not my fault. I didn't kill her. She started it even when we
were kids. She'd pick on me. She'd copy from me. And never once has she
apologized so she deserves to die.
Wait. So you admit that you did kill her? You killed your classmate. Am I right?
I didn't kill her. I only said that she deserves to die. There's a difference. And
why am I even talking to myself? I must be crazy.
So you admit that you are crazy. You've lost your mind. Am I right?
NO! I have not lost my mind. I'm just... I'm probably tired. I must be
hallucinating.
So you admit that you are hallucinating?
Well, I --- I don't know. Don't talk to me. Go away.
Go away? How can I go away? I am with you. I am you. The two of us? We're
meant to be. We're inseparable. We're attached to each other. We're
connected. Isn't that wonderful?
Oh, go away! Oh please! Just go away. You're not helping.
I'm trying to help you. I'm telling you that you are crazy for talking to yourself.
And, yes, you are a murderer because that's the truth. You killed your friend
out of jealousy, out of anger, out of stress and out of hatred. She apologized
to you but you didn't forgive her, did you?
I don't know.
You don't know? You hurt her. You tortured her. You made her suffer for hours.
She made me suffer for years! I was 12. I was young. Oh gosh, I'm
hallucinating. This has got to stop.
See? You admitted it!
OK, fine. I killed her. But she deserved it.
Did I? Did I deserve it?
Who said that? Who said that? Answer me.
I did. And I won't stop until I kill you, until the whole world goes against you,
until you cry your hardest, until you bleed to death.
Hold on. How are you alive?
Oh, I am alive. I've been alive in your mind. That day when you stabbed me in
my sleep, that day when you ended my life, that day when you cursed out my
name, that day when you said it was my fault why you turned into this, I died
but the memory of me will always be in your mind.
I'm hallucinating. I'm hallucinating.
You killed me! I said I was sorry. I went to your house to ask for forgiveness. I
told you how guilty I was for ruining your life. It was my fault and I was sorry
but... but you took my life. You are a soulless creature, a merciless human
being. You killed me. You did. But in your eyes, in your mind, I'm alive. Here!
I'm really alive!
Go away!
Oh, poor me. Poor us. See what you did? Is it so hard to tell the police? You
know, she won't go away until you confess. What happened to you guys a few
years ago - that was in the past.
But the past ruined my life. She ruined my life.
I didn't ruin your life. You did.
No, go away. These are just hallucinations. Go away! Stay away from me! Stay
away! Stay away! I said stay away! These are just hallucinations!
Hallucinations!
Hallucinations or not, you're a murderer. You dispatched me right after you
stabbed me. I was asleep. But before that, I was in tears. I was sad because
you wouldn't forgive me.
Do you expect me to believe you?
Yes.
Well, I can't. You're dead and I will never be able to bring you back.
Because you killed her. That simple.
I killed her! Yes, I did. But she deserved it. I failed my exams because of her. I
lost the game because of her. I didn't go to prom because of her. I will never
forgive her.
Oh dear...
Like I said, these are just hallucinations! Stay away from me.
The cops are coming.
No, they can't... No. These are hallucinations. The cops aren't coming. They
can't come.
They can come and they will come. You called them yourself. You confessed.
I don't want to go to jail! I'm scared.
So am I! But you did this to yourself.
I must be insane. I must be demented. I must be hallucinating.
Wait. Wait. What is that sound? My heart is pounding so fast. I'm so scared. Is
it the cops? Oh no! No! The cops are here. I'm not hallucinating! I'm going to
jail! No. No!