SANTO DOMINGO– Banco Popular Dominicano was awarded “Largest Issuer of Fixed Income” at the 5th Edition of the Dominican Republic Stock Exchange (BVRD) Awards, for its successful placement of RD$5 billion in subordinated debt bonds, highlighting the bank's commitment and positive impact on the development of the Dominican stock market.
The award was given for being the issuer that registered the highest volume of trading through the primary fixed income market, from December 1, 2022 to November 30, 2023.
Specifically, Banco Popular placed this entire RD$5 billion issue among institutional investors in November 2023, thanks to which the financial organization received funds that are intended to support the current and future growth of the loan portfolio to the country's productive sectors.
The achievement of this placement also refers to a second tranche of a broad program of subordinated debt issuances, which was approved by the Superintendency of Banks (SIB) last year and whose first tranche, also for another RD$5,000 million, was placed with equal success in 2022.
With a term of 10 years, this premium subordinated debt issue was now channeled into the stock market in its entirety through Inversiones Popular Puesto de Bolsa (IPSA), a subsidiary of Grupo Popular.
The BVRD Awards seek to recognize the main players in the stock market for their outstanding performance in the volumes they operate in the primary and secondary markets through the BVRD platform.
The recognition of Banco Popular continues to consolidate its position as a leading financial institution, which helps to energize the Dominican stock market.
The BVRD Awards ceremony took place last Wednesday, December 6th, in the Churchill Room of the Intercontinental Hotel.
