CENTURY Properties Group Inc. listed P3 billion worth of retail bonds at the Philippine Dealing & Exchange Corp. on Friday, with the issuance representing the first tranche of its P12‑billion debt securities program shelf registration.
In a disclosure, the company said it fully exercised the oversubscription option of P2 billion for the issuance.
“We are very pleased by the outcome of this transaction. The strong demand for our retail bonds reflects investor confidence in our long-term strategy and in our ability to execute consistently, even amid shifting market dynamics,” said Marco Antonio, company president and CEO.
The bonds carry coupon rates of 6.508 percent per annum for the four-year Series D papers due 2030 and 7.628 per annum for the seven-year Series E securities due 2033.
The public offering was conducted earlier this month after the issuance was approved by the Securities and Exchange Commission.
Century Properties earlier said that proceeds from the bond sale would support ongoing and future projects, including residential developments and other corporate initiatives.
Through its subsidiary Phirst Park Homes Inc., which focuses on the affordable market, the company said that it planned to launch up to nine projects with a sales value of P30 billion this year.
It added that its other subsidiary, Century Limitless Corp., had completed the third condominium in its Azure North San Fernando, Pampanga development, and plans to launch a project in General Trias worth P10 billion this quarter.
Century Properties shares on Friday were unchanged at P0.75 each.
