CLI secures P5-B bond approval
The offer period runs from 10 March and ends on 14 March, with the bonds scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on 21 March
The offer period runs from 10 March and ends on 14 March, with the bonds scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on 21 March
Three decades after the Marcopper mining disaster devastated Marinduque’s waterways, the province is again pressing the…
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
Property developer Cebu Landmasters Inc. (CLI) could raise P5 billion to boost its war chest for expansion after securing the Securities and Exchange Commission (SEC) consent for its Sustainability-Linked Bonds.
In a stock market report, the company said it has received the Permit to Sell from the SEC for the issuance of the bonds, which are part of CLI’s P15-billion debt securities program.
The program has a base offering of P3 billion with an oversubscription option of P2 billion.
The bonds include Series D 3-year bonds with a 6.634 percent annual coupon rate and Series E 5-year Bonds at 6.9157 percent annually.
The offer period runs from 10 March and ends on 14 March, with the bonds scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on 21 March.
CLI has been given a “PRS Aa+” credit rating by the Philippine Rating Services Corp., reflecting the company’s management, position in the Visayas and Mindanao markets, and earnings growth.
The rating indicates high credit quality with low risk. The stable outlook suggests the rating is likely to stay unchanged in the next 12 months.
CLI is expanding into Luzon with a P12-billion investment, marking its first major venture outside its VisMin base. The company opened a 329-square-meter office in Makati City last January as part of its strategy to become a national real estate player.
By 2026, CLI plans to launch residential projects in South Luzon, specifically in Laguna, Batangas and Cavite, starting with a house-and-lot community to meet local demand. The company will also develop a two-tower mixed-use residential project near Metro Manila.
