Century Properties Group Inc. of the Antonio family said Tuesday it plans to issue P3 billion worth of fixed-rate bonds.
CPG said in a stock exchange filing its board of directors approved the issuance of P2 billion fixed-rate bonds, with an oversubscription option for another P1 billion.
The bonds will have three tenors consisting of Series A three-year bonds due 2026, Series B five-year bonds due 2028 and Series C seven-year bonds due 2030. This will be the second and final tranche to be issued from the company’s P6-billion bond shelf registration program approved by the Securities and Exchange Commission.
The bonds, which will be listed on the Philippine Dealing and Exchange Corp., is subject to regulatory approval. Jenniffer B. Austria