Century Properties Group is looking to raise P3 billion by February as its shelf-registration for a bond sale was approved by the Securities and Exchange Commission (SEC).
The bonds form part of a P6-billion debt securities plan in the next three years.
The first tranche of the bonds will be divided into an initial P2 billion and another P1 billion, covering the oversubscription option, due 2027.
The proceeds will be used to partially refinance the company’s debt, to fund capital expenditures for horizontal affordable housing developments, and to fund general corporate requirements.
Century Properties will offer the bonds comprising the first tranche at face value between Feb, 14 to 18, 2022. It is will be listed with the Philippine Dealing & Exchange Corp. on February 24.
The company tapped China Bank Capital Corp. as the sole issue manager, sole lead underwriter, and sole bookrunner for the offer.
