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THE Securities and Exchange Commission (SEC) exempted Suntrust Home Developers, Inc.’s proposed issuance of P5.6 billion, 6% convertible bonds to Summit Ascent Investments Ltd. from registration requirements. Suntrust released on Monday a copy of the SEC letter dated Dec. 11, as signed by SEC Director Vicente Graciano P. Felizmenio, Jr. Mr. Felizmenio said the company is “exempt from the registration requirements under Section 8 of the Securities Regulation Code, for which the exemption fee in the amount of P5.66 million was paid to the commission on October 08, 2020…” Mr. Felizmenio added the convertible bonds to be issued in favor of Summit Ascent Investments is an “exempt transaction” under the Securities Regulation Code, as it is a “sale of securities by an issuer to fewer than 20 persons in the Philippines during any 12 ....