Published December 16, 2020, 5:30 AM
Century Properties Group Inc. is planning to raise up to P3 billion from a public offering of unsecured fixed-rate peso denominated retail bonds.
In a disclosure to the Philippine Stock Exchange, the firm said its Board of Directors has approved the plan to offer P2 billion worth of retail bonds with an Oversubscription Option of up to P1 billion.
The firm had also raised P3 billion at the start of the year from its follow-on offering of preferred shares to fund the expansion of its commercial leasing business.
CPG’s largest equity capital markets transaction to date was twice oversubscribed over the P2 billion base issue size, thereby allowing the company to fully exercise its P1 billion oversubscription option.
Published December 15, 2020, 4:00 PM
Lopez Holdings Corporation has formally filed a petition for voluntary delisting of its 4.63 billion common shares from the main board of the Philippine Stock Exchange (PSE).
In a disclosure to the Philippine Stock Exchange, the firm said the delisting is conditioned on the public float of the company falling below the 10 percent minimum public ownership (MPO) requirement upon the completion of a Tender Offer for its shares by associate First Philippine Holdings Corporation.
The Lopez Holdings Board of Directors had acknowledged last December 1 the conduct by FPH of a Tender Offer to acquire a minimum of 20 percent and a maximum of 45.56 percent of the total issued and outstanding common shares of Lopez Holdings from all minority shareholders at a price of P3.85 per common share.
Published December 14, 2020, 3:23 PM
The San Miguel group’s South Luzon Tollway Corporation has retained the highest PRS Aaa issue credit rating with a stable outlook from the Philippine Rating Services Corporation (PhilRatings) for its outstanding Fixed-rate bonds of P4.9 billion.
SLTC was incorporated primarily to engage in the rehabilitation, construction and expansion of the South Luzon Expressway (SLEX).
Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong.
AStable Outlook, on the other hand, indicates that ratings are likely to be maintained or to remain unchanged in the next 12 months.
Published December 15, 2020, 5:00 AM
SB Capital Investment Corporation (SB Capital), the investment arm of Security Bank Corporation (SBC), was recently recognized by The Asset and FinanceAsia Awards for its participation in several fund-raising activities.
In a statement, SBC said SB Capital was cited for its role as lead arranger, bookrunner, and underwriter in key initial public offering (IPO) and finance deals in the Philippines and Southeast Asia this year.
The Asset Awards recognized SB Capital alongside three other banks as mandated lead arrangers and bookrunners for HC Consumer Finance’s P8 billion senior secured term loan facility.
The term loan facility won as the 2020 Best Structured Finance Deal in the Philippines.
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