SEC approves shelf registration of Cebu Landmasters’ P15-B bonds

The Securities and Exchange Commission (SEC) has approved the debt securities program of Cebu Landmasters Inc., which looks to raise as much as P8 billion from the first tranche.

In its Sept. 6 meeting, the Commission en banc rendered effective the registration statement of Cebu Landmasters covering up to P15 billion in bonds, subject to the company’s compliance with certain remaining requirements.

Cebu Landmasters may offer the bonds in tranches within three years. For the first tranche, the listed property developer will offer to the public up to P8 billion of Series A bonds due 2026, Series B bonds due 2028, and Series C bonds due 2029.

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The company could net up to P7.9 billion from the offer, which will be used for project development or capital expenditures for various real estate projects and for general corporate purposes.

The bonds comprising the first tranche will be offered at face value from Sept. 26 to 30, and will be listed on the Philippine Dealing & Exchange Corp. by Oct. 7, according to the latest timetable submitted to the SEC.

Cebu Landmasters engaged BPI Capital Corp. and China Bank Capital Corp. as joint issue managers, joint lead underwriters, and joint bookrunners for the offer, while PNB Capital and Investment Corp., RCBC Capital Corp, and S.B Capital Investment Corp. were tapped as co-lead underwriters.

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The article was originally published in Inquirer.NET.

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