Leading regional property developer Cebu Landmasters Inc. (CLI) is selling up to P5 billion in a follow-on offering of sustainability-linked bonds.
CLI announced on Monday that it will launch the offering as part of the second tranche of its P15 billion debt securities program. The bonds, to be issued in two series—Series D (due in 2028) and Series E (due in 2030)—will feature a base amount of P3 billion, with an oversubscription option of up to P2 billion.
The sustainability-linked bonds have earned a PRS Aa+ credit rating with a stable outlook from the Philippine Rating Services Corporation.
CLI’s sustainability push is supported by solid financial growth. In the first three quarters of the year, the company reported a 7 percent increase in net income of P2.32 billion, driven by growth in real estate sales. Consolidated revenue grew by 9 percent, reaching P14.11 billion, with real estate sales contributing P12.46 billion, up 6 percent from previous.
The company’s residential project launches, valued at P8.2 billion contributed to its growth, with 1,664 new units, 57 percent of which are targeted at the mid-market segment. CLI’s focus on catering to the diverse needs of the market has been instrumental in its continued success, particularly in its rapidly selling developments.
CLI reported that 89 percent of units in its latest projects have already been sold. “The strong absorption rate reflects the market’s demand for properties that are not only well-designed but also aligned with our green commitment,” said CLI chairman and CEO Jose Soberano III.
The company’s Garden Series, which targets the mid-market, has contributed 57 percent of total sales, with Mindanao emerging as the largest market contributor, accounting for 56 percent of reservation sales.
As CLI moves forward with its sustainability-linked bond issuance, the company continues to set a high standard for green real estate development, aligning financial growth with environmental responsibility.
