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Philippines’ DMCI to offer PHP 500 million notes in four tranches
By Marisa Wong
Morgantown, W.Va., March 21 – DMCI Holdings, Inc. said the Philippine Securities and Exchange Commission has approved the issuance of the remaining half of its previously proposed PHP 1 billion of deferred coupon-paying retail bonds.
The company will offer, through wholly owned subsidiary DMCI Project Developers, Inc., PHP 500 million of bonds in four tranches, according to a Philippine SEC filing.
The coupons are fixed at 4¾% for tranches D and F, both due in 2019, and 5¼% for tranches E and G, both due in 2021.
This second-installment of bonds will be offered beginning on Tuesday until May 4.
SB Capital Investment Corp. is the issue manager and underwriter.
Proceeds will be used for working capital and other general corporate purposes.
The holding company is based in Makati City, Philippines.
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