Cityland Development Corp., a listed property developer, is seeking regulatory approval for the issuance of P1.1 billion worth of commercial papers.
In a filing with the Securities and Exchange Commission, Cityland said it will use the proceeds to finance the funding requirement of various ongoing projects.
The property developer ended 2022 with commercial papers sold totaling P1.13 billion.
At the end of the first quarter, Cityland reported a 39 percent year-on-year growth in net income to P232.5 million.
