Century Properties Group Inc., a listed real estate developer, said Monday it secured regulatory approval to raise as much as P3 billion from the sale of fixed-rate retail bonds.
The bond offer will consist of P2 billion and provision of another P1 billion for oversubscription, with maturities and interest rates of 6.576 percent for three years, 7.4054 percent for five years, and 7.68 percent for seven years.
Century Properties’ latest bond offer is the second tranche of the P6 billion it shelf registered with the Securities and Exchange Commission. Other details of the planned bond sale will be announced later.
The company is primarily engaged in the development, marketing, and sale of mid- and high-rise condominiums and single-detached homes, leasing of retail and office space, and property management.
In the nine months through September, Century Properties reported a net profit of P778 million, down from P845 million in the year-earlier period.
