By Marisa Wong
Los Angeles, March 3 – Philippines’ Century Properties Group Inc. raised PHP 3 billion from its issuance of 4.8467% three-year fixed-rate retail bonds, according to a company announcement.
The company had initially planned to issue PHP 2 billion of the bonds but exercised its PHP 1 billion oversubscription option with the offering more than twice oversubscribed.
Because the deal was well received by investors, the bonds were priced at the tighter end of the marketing spread range, the company said.
China Bank Capital Corp. is the issue manager, lead underwriter and bookrunner.
Proceeds will be used to partially refinance bank term loans, finance capital expenditures for vertical developments and fund general corporate purposes.
Century Properties is a Makati City-based real estate company.
Issuer: | Century Properties Group Inc.
|
Issue: | Fixed-rate retail bonds
|
Amount: | PHP 3 billion
|
Maturity: | Three years
|
Manager: | China Bank Capital Corp.
|
Coupon: | 4.8467%
|
Announcement date: | March 1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.