CENTURY Properties Group Inc. on Friday released details of its peso-denominated fixed-rate retail bond issuance, a day after announcing that it had secured regulatory approval for the offer.
The Securities and Exchange Commission on Thursday granted the Order of Registration and Permit to Sell for the said bonds, which form part of Century Properties’ P12-billion debt securities shelf registration program.
In a disclosure on Friday, the company outlined the structure and pricing of the bond issue and use of proceeds for the initial tranche.
Century Properties is offering up to P3 billion worth of bonds with an oversubscription option of up to P2 billion. The issuance comprises four-year Series D bonds due 2030 carrying an interest rate of 6.508 percent per annum and seven-year Series E bonds due 2033 with a coupon of 7.628 percent.
Proceeds from the offer will be used to fund capital expenditures for ongoing and upcoming residential developments, including the company’s Mykonos project in San Fernando, Pampanga, and several projects under its PHirst segment located in Pampanga, Bulacan, Batangas, Laguna and Davao del Norte.
“This transaction allows us to further optimize our capital structure by extending maturities and enhancing liquidity,” said Marco Antonio, president and chief executive officer of Century Properties.
“The continued improvement in our key credit metrics positions us well to support our project pipeline while preserving financial flexibility,” he added.
The bond sale comes as the listed developer continues to post improving financial results. As of Sept. 30, 2025, Century Properties reported a 17-percent increase in net income to P2.1 billion from P1.8 billion in the same period in 2024, supported by sustained project take-up and disciplined cost management.
It also reported improved profitability overall, with the ratio of debt to earnings before interest, taxes, depreciation and amortization easing to 3.3x in the first nine months of 2025 from 3.8x in 2024 and a high of 9.1x in 2021.
Credit Rating Investors Services Philippines Inc. assigned the bonds an AA+ rating with a positive outlook, citing the company’s diversified portfolio, established presence in the vertical housing market, resilient financial position and well-managed debt.
The public offer runs from Feb. 6 to Feb. 12, with listing expected on Feb. 20, 2026.
China Bank Capital Corp. was tapped as the sole issue manager while also acting as joint lead underwriter and bookrunner together with PNB Capital and Investment Corp., while Land Bank of the Philippines was designated as selling agent.
Century Properties shares added P0.02, or 2.53 percent, to close at P0.81 each on Friday amid a 0.14-percent rise for the Philippine Stock Exchange index.
