Century Properties Group Inc. said it is set to issue its P3- billion five-year bonds this week.
The company said it has formally received the documents to push through with the bond sale that is divided into an initial P2 billion and another P1 billion covering the oversubscription option.
The proceeds will be used to partially refinance the company’s debt, to fund capital expenditures for horizontal affordable housing developments, and to fund general corporate requirements.
The bond is part of a P6- billion shelf-registered borrowing program the company registered with the Securities and Exchange Commission that it can sell in three years time.
Century Properties said the first tranche of the bond will be listed at the Philippine Dealing & Exchange Corp. on Feb. 24, 2022.
