By Angela McDaniels
Tacoma, Wash., Nov. 5 - Megaworld Corp. will issue PHP 5 billion of 8.46% bonds due May 18, 2015, according to a 17-C filing with the Philippines Securities and Exchange Commission.
The Philippines SEC has issued a pre-effective clearance for the offering. Subject to the issuance of a permit to sell securities, the offer period for the bonds will start on Friday and end on Wednesday.
BDO Capital & Investment Corp. and Hongkong and Shanghai Banking Corp. Ltd. are the joint lead managers and bookrunners.
The company said the notes have been rated AAA by Credit Rating and Investors Services Philippines, Inc.
Proceeds will be used primarily to fund capital expenditures for Megaworld's proposed North Bonifacio Central District project in Fort Bonifacio.
Megaworld is a property developer based in Makati City, the Philippines.
| Issuer: | Megaworld Corp.
|
| Issue: | Bonds
|
| Amount: | PHP 5 billion
|
| Maturity: | May 18, 2015
|
| Bookrunners: | BDO Capital & Investment Corp. and the Hongkong and Shanghai Banking Corp. Ltd.
|
| Coupon: | 8.46%
|
| Price: | Par
|
| Yield: | 8.46%
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 11
|
| Rating: | Credit Rating and Investors Services Philippines, Inc.: AAA
|
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