The listed proprietary developer announced that CENTURY Properties Company, Inc. (CPG) has increased P3 billion of P3 billion from its bond offering of the three-year bond scheme due in 2024.
The CPG president and Chief Executive Officer of CPG Jose Marco R. Antonio, said on Monday at a virtual listing ceremony that marking a day of action, ‘We raised P3 billion in fresh money that will allow the business to continue its effort to achieve prudent financial management, encourage vertical developments, and finance general corporate purposes like working capital.’ ” “
A coupon of 4,8467% per year is the three-year non-secured fixed-rate retail bond. The business has reported that the deal has gained investor attention and has taken the option of oversubscribing P1-billion to increase it to P3-billion.
“Not only was CPG successful in collecting funds for the 35th year of the Philippine real estate, the overall demand for the CPG bond offering was over-subscribed more than twice,” Mr. Antonio says.
China Bank Capital Corp. was the only reporters, underwriters and fundraisers assigned by the organization. China Bank Capital Corp.
“We are delighted with CPG’s positive acceptance of our bond issue as a third consecutive capital market deal. The Chinese bank Capital Chief, Ryan Martin L. Tapia, said in a statement that he displays investor trust in the business in the light of a challenging economic backdrop.
The Philippine Trading & Trade Corp. bonds are the third bond to date this year. Max P33.37 billion in annual listings now. Complete sum of tradable debt instruments released by 53 enterprises, consisting of 204 securities is P1.44 trillion.
“We’re going to continue our market expansion into affordable horizontal housing and industrial rental while keeping a foothold in vertical housing,” Antonio said.
CPG stake at the bourse increased by 1.23% on Monday to P0.41 per share.