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MANILA - The Securities and Exchange Commission (SEC) has considered favorably the public offering of Century Properties Group for PHP6 billion worth of fixed-rate bonds under shelf registration. In its meeting on January 25, the commission en banc resolved to render effective the registration statement filed by Century Properties for the debt securities program, subject to certain remaining requirements. The bonds may be offered in one or more tranches within three years. For the first tranche, the listed property developer will offer up to PHP2 billion of five-year fixed-rate bonds due 2027, with an oversubscription option of up to PHP1 billion. Net proceeds from the offer could amount to PHP2.94 billion, assuming the overallotment option is fully exercised. Proceeds will be used to partially refinance the company's debt, fund capital expenditures for horizontal affordable housing developments, and fund general corporate requirements. Century Properties will offer the bonds compr ....

Exchange Commission , Century Properties Group , Century Properties , China Bank Capital Corporation , Philippine Dealing Exchange Corp , Philippine Dealing , Manila The Securities And Exchange Commission Sec Has Considered Favorably Public Offering Of Century Properties Group For Php6 Billion Worth Fixed Rate Bonds Under Shelf Registration In Its Meeting On January 25 , He Commission En Banc Resolved To Render Effective The Registration Statement Filed By Century Properties For Debt Securities Program , Ubject To Certain Remaining Requirements The Bonds May Be Offered In One Or More Tranches Within Three Years For First Tranche , He Listed Property Developer Will Offer Up To Php2 Billion Of Five Year Fixed Rate Bonds Due 2027 , Ith An Oversubscription Option Of Up To Php1 Billion Net Proceeds From The Offer Could Amount Php2 94 , Ssuming The Overallotment Option Is Fully Exercised Proceeds Will Be Used To Partially Refinance Company 39s Debt , Und Capital Expenditures For Horizontal Affordable Housing Developments , Nd Fund General Corporate Requirements Century Properties Will Offer The Bonds Comprising First Tranche At Face Value From February 14 To 18 , N Time For Their Listing On The Philippine Dealing Amp Exchange Corp February 24 , Ccording To The Latest Timetable Submitted Sec Company Has Engaged China Bank Capital Corporation As Sole Issue Manager , Sole Lead Underwriter , Nd Sole Bookrunner For The Offer Pr ,