Published March 2, 2021, 5:00 AM
Real estate developer Century Properties Group, Inc. has raised P3.0 billion in fresh funds from its latest bond offering, P1 billion more than its initial target because the offer was twice oversubscribed.
CPG said the three-year unsecured Peso-denominated fixed rate retail bonds, carrying a coupon rate of 4.8467 percent per annum, were well received by investors that CPG had to exercise its P1.0 billion oversubscription option from a base size of P2.0 billion.
CPG Chief Finance Officer and Head for Investor Relations Ponciano S. Carreon, Jr. said significant interest in the offering moved the pricing at the tighter end of the marketing spread range.