The Securities and Exchange Commission (SEC) has approved Robinsons Land Corp.’s (RLC) P30- billion bond sale program.
The realtor is initially putting on the market half of the amount.
Robinsons Land may offer the rest of the bonds within three years.
For the first tranche RLC is offering an initial P10 billion and another P5 billion for the oversubscription option.
The bonds will form part of the company’s Series E bonds due 2025 and Series F bonds due 2027.
The proceeds will be used primarily to fund the development of malls, hotels and resorts, logistics and industrial facilities, as well as projects under Robinsons Land’s residential and integrated developments divisions.
A portion of the proceeds will also go to land acquisition, repayment of short-term loans, and general corporate purposes.
The bonds will be listed on the Philippine Dealing & Exchange Corp.
RLC tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., First Metro Investment Corp., and SB Capital Investment Corp. as joint issue managers, joint lead underwriters, and joint bookrunners for the transaction.
