By Marisa Wong
Los Angeles, Feb. 28 – Century Properties Group Inc. announced it listed its five-year bonds totaling PHP 3 billion on the Philippine Dealing & Exchange Corp.
The base offer size was PHP 2 billion, but the deal included a PHP 1 billion oversubscription option.
The fixed-rate bonds bear interest at 5.7524%, as previously announced.
This is the first tranche under the company’s up to PHP 6 billion debt securities program.
The public offer period began on Feb. 14 and ended on Feb. 18.
Of the total proceeds, PHP 1 billion is earmarked for capital expenditures for horizontal affordable housing developments of PHirst Park Homes, Inc. (PPHI), a joint venture with Mitsubishi Corp. Remaining funds will be used for partial debt refinancing and other general corporate purposes.
Century Properties is a Makati City, Philippines-based real estate company.
| Issuer: | Century Properties Group Inc.
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| Amount: | PHP 3 billion
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| Issue: | Fixed-rate bonds
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| Term: | Five years
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| Coupon: | 5.7524%
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| Offer period: | Feb. 14-Feb. 18
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| Listing date: | Feb. 24
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| Listing: | Philippine Dealing & Exchange Corp.
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