5 days ago
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Richmond Mercurio - The Philippine Star
March 12, 2025 | 12:00am
MANILA, Philippines — Cebu Landmasters Inc. (CLI) has secured the green light from the Securities and Exchange Commission to raise as much as P5 billion from the issuance of sustainability-linked bonds.
CLI said it received from the SEC last Friday the certificate of permit to offer securities for sale for sustainability-linked bonds consisting of a base principal amount of up to P3 billion, with an oversubscription option of as much as P2 billion.
With the approval secured, the company commenced yesterday with the offering and will end on March 14.
Listing of the bonds with the Philippine Dealing and Exchange Corp. is scheduled on March 21.
The issuance represents the second tranche of securities previously registered under CLI’s shelf registration of P15 billion debt securities program.
The coupons have been set for Series D three-year bonds at 6.6348 percent per annum and Series E five-year bonds at 6.9157 percent per annum.
Proceeds from the bond issuance will be used primarily to refinance the company’s maturing obligations as well as for other general corporate purposes.
Since its public listing in 2017, CLI has successfully introduced various fixed income and equity instruments to support its rapid growth. These include its first bond offering in 2022 and the listing of its preferred shares in 2024.
