Megawide Construction Corp. said Monday its board has approved a bond offer that could raise as much as P5 billion for the listed construction firm.
The company said the peso-denominated, fixed-rate bonds will has a base size of P4 billion, with an additional P1 billion set aside for oversubscription. The bond offer will have 3 series—a 3-year series C bond, a 5-year series D bond, and a 7-year series E bond—if approved by the Securities and Exchange Commission.
The bonds will be listed on the Philippine Dealing and Exchange Corp., the market for fixed-income bonds.
Megawide said its board appointed PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. as the joint issue managers, joint lead underwriters and bookrunners.
The company said it will provide other details of the offer and the use of proceeds in the prospectus it will file with regulators.
