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.