Philippines’ 8990 Holdings plans up to PHP 9 billion bond offering

By Marisa Wong

Madison, Wis., June 23 – 8990 Holdings, Inc. is preparing to issue up to PHP 9 billion of bonds, according to a Philippine Stock Exchange notice.

The company said it is awaiting approval of the bond sale from the Philippine Securities and Exchange Commission.

The bonds will be issued in three series due 2020, 2022 and 2025, according to a Monday news release.

In February the company announced plans to issue PHP 5 billion of fixed-rate corporate bonds. The deal would also include a PHP 4 billion greenshoe.

The company named BDO Capital as one of the lead underwriters and SB Capital as a joint lead underwriter and joint issue manager, according to an announcement in March.

The company was previously looking to start the offering at the end of April and issue the bonds in May.

8990 is a property developer based in Makati City, Philippines.

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