Philippines’ DMCI subsidiary to sell PHP 10 billion corporate notes

By Marisa Wong

Morgantown, W.Va., Dec. 8 – DMCI Holdings, Inc. announced that wholly owned subsidiary DMCI Project Developers, Inc. entered into a notes facility agreement on Dec. 3 to issue PHP 10 billion of peso-denominated corporate notes.

The notes consist of PHP 1 billion of series F notes, PHP 1 billion of series G notes, PHP 2.5 billion of series H notes, PHP 2.5 billion of series I notes, PHP 1.5 billion of series J notes and PHP 1.5 billion of series K notes.

BDO Capital and Investment Corp. is the lead arranger and sole bookrunner.

Initial purchasers of the notes include ALFM Peso Bond-Fund, Inc., BDO Leasing and Finance, Inc., BDO Private Bank, Inc., BDO Unibank, Inc., Bank of the Philippine Islands, BPI Asset Management and Trust Group as Trustee for Bank of the Philippine Islands Employees Retirement Plan, China Banking Corp., Development Bank of the Philippines, Land Bank of the Philippines and Security Bank Corp.

Proceeds from the issuance will be used to fund acquisitions of real estate properties, fund project development costs, refinance existing debt and fund other general corporate purposes.

The holding company is based in Makati City, Philippines.

© 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.