Philippines’ 8990 Holdings gets approval to begin bond offering

By Marisa Wong

Madison, Wis., June 26 – 8990 Holdings, Inc. said the Philippine Securities and Exchange Commission approved its proposed offering of PHP 5 billion fixed-rate bonds.

The deal will also include a PHP 4 billion oversubscription option.

The company first proposed the bond issue in February and named BDO Capital as one of the lead underwriters and SB Capital as a joint lead underwriter and joint issue manager in March.

The company was originally 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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