A BROWN Co. Inc. on Wednesday said the Securities and Exchange Commission (SEC) had given conditional approval for a shelf registration of up to P12 billion in fixed-rate bonds.
The listed firm told the stock exchange that it received a pre-effective letter dated June 16, 2026, covering the proposed bond program.
Effectivity of its registration statement and the SEC’s issuance of the permit to sell remained subject to the company’s compliance with the conditions under the regulator’s letter.
The effectivity is also subject to the Philippine Dealing and Exchange Corp.’s (PDEx) approval of the listing application for the fixed-rate bonds, the disclosure read.
Under the program, A Brown plans to issue up to P12 billion in fixed-rate bonds through a shelf registration.
The initial tranche will consist of up to P3 billion in bonds, with an oversubscription option of up to P2 billion.
The bonds comprise three-year Series A bonds due in 2029 and five-year Series B bonds due in 2031, to be issued at face value.
For the initial offer, A Brown expects to net around P4.92 billion, assuming full exercise of the oversubscription option.
Proceeds will be used to fund renewable energy investments, residential projects, redemption of shares, and other general corporate purposes.
The offer period is scheduled from June 22 to 26 with a listing on the PDEx targeted on July 3, based on the company’s latest timetable submitted to the commission.
The company tapped PNB Capital and Investment Corp. as sole issue manager, joint lead underwriter and bookrunner together with Land Bank of the Philippines.
A Brown first announced the filing of the registration statement for the bond program on May 4.
Shares of the company on Wednesday slipped P0.04. or 5.33 percent, to close at P0.71 each.
