First Metro wins local and international awards

January 17, 2022

First Metro Investment Corporation was recognized by two prestigious institutions, the Fund Managers Association of the Philippines (FMAP) and Alpha Southeast Asia. First Metro president Jose Patricio Dumlao said, “We are both honored and grateful for these awards. First Metro has been at the forefront of capital markets development for several decades now. Our commitment to serve the needs of our clients and meet the changing demands of the market have not faltered even and especially during difficult times. All of us at First Metro continue to rise to the challenge, giving only our best despite the tough business environment we are in brought about by this pandemic.”

First Metro deals won four awards in Alpha Southeast Asia’s 15th Annual Deal & Solution Awards.

The Bureau of the Treasury’s USD1.59 billion Retail Dollar Bonds bagged the Best Retail Dollar Bond Deal of the Year and Best Sovereign Bond Deal of the Year awards. First Metro was one the joint issue managers of the first-ever onshore retail dollar bond issuance.

Meanwhile, Monde Nissin Corp.’s P55.89 billion initial public offering (IPO), the country’s largest IPO was awarded the Best IPO Deal of the Year in the Philippines. First Metro acted as local lead underwriter and joint bookrunner of the successful offering.

First Metro also participated in another winning market debut on the Philippine Stock Exchange in 2021, the P15.29 billion IPO of MREIT, Inc., chosen as the Best Equity Deal in the Philippines. MREIT, Inc. is a company designated by Megaworld Corporation to operate as a Real Estate Investment Trust (REIT).

These transactions are notable not only for their size but also because they were executed and closed in the middle of the pandemic, with a challenging operating environment for many investment banks and financial institutions. Planning, coordination, selling and distribution were done largely via virtual meetings and formats, including regulatory approvals and processes.

Alpha Southeast Asia is the first and only institutional investment magazine focused on Southeast Asia. Its Annual Best Deal & Solution Awards, now on its 15th year, remains as the first and only award that uniquely recognizes deals/solutions completed in Southeast Asia by banks in the region.

First Metro was also recognized locally by FMAP in their Bankers and Brokers Poll 2021. The investment house was once again awarded Best Fixed Income House (first place). First Metro vice president and head of Local Markets – Debt Securities Trading, Dave Ignacio Estacio, was commended as Best Fixed Income Trader – Local (second place).

FMAP honors the best analysts, economists and sales people as chosen by its member institutions for both the fixed income and equities markets. The criteria are the performance: dedication, quality of service and workmanship that both the Fixed Income and Equities personnel give and provide to their clients – the Fund Managers – the sector that they serve.