STI Education Systems Holdings, Inc. said its subsidiary, STI Education Services Group Inc., has fully redeemed its 7-year bonds worth P2.18 billion.
The bonds matured on March 23 but was redeemed on March 25 because the maturity date wasn’t a working day.
In 2027, STI ESG raised P3.0 billion from the issuance of 7-year and 10-year bonds. It is part of the P5 billion shelf registration of the company for future fund-raising activities.
The 7-year tranche carried a 5.8085 percent coupon while the 10-year series carried a 6.3756 percent coupon.
Proceeds of the bond issuance were used to finance the campus expansion projects, refinancing of the short-term loans incurred for the acquisition of land, and for other general corporate requirements of the Group.
