Connect with us

Hi, what are you looking for?

Stock Markets

Century Properties raises P3B from bond offering

CPG-Century properties_logo

CENTURY Properties Group, Inc. (CPG) has raised P3 billion from its offering of three-year bonds due in 2024, which the listed property developer said was more than twice oversubscribed from the base offer.

“We raised P3 billion in fresh funds that will allow the company to continue its efforts towards prudent financial management, support the [capital expenditures] for vertical developments, and fund general corporate purposes including working capital,” CPG President and Chief Executive Officer Jose Marco R. Antonio said at the company’s virtual listing ceremony on Monday.

The three-year unsecured fixed rate retail bond carries a coupon rate of 4.8467% per annum. The company said the offer had drawn investor interest, prompting it to exercise the P1-billion oversubscription option to raise the offer to P3 billion.

“On CPG’s 35th year in Philippine real estate, not only did we achieve a successful fund-raising, the final demand of CPG’s bond offer was more than twice oversubscribed,” Mr. Antonio said.

China Bank Capital Corp. was the company’s assigned sole issue manager, lead underwriter, and sole book runner for the fund-raising.


“This bond issuance is our third consecutive capital market transaction for CPG, and we are very pleased with the market’s strong reception to this offering. It is a testament to investors’ confidence in the company amidst a challenging economic backdrop as well as support for its growth initiatives and expansion strategy,” China Bank Capital President Ryan Martin L. Tapia said in a statement.

CPG bonds are the third listing at the Philippine Dealing & Exchange Corp. so far this year. Year-to-date listings now total P33.37 billion. Total level of tradable corporate debt instruments, meanwhile, amounts to P1.44 trillion issued by 53 companies, comprising 204 securities.

“We will proceed to our business expansion towards horizontal affordable housing and commercial leasing, while maintaining a foothold in vertical residential developments,” Mr. Antonio said.

Shares in CPG at the stock exchange rose by 1.23% to P0.41 per share on Monday. — K. C. G. Valmonte


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


A shopping centre in Coventry that eight years ago was valued at £37 million was sold this week for only £4.9 million, setting...

Breaking News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Breaking News

The $160,000 SS Dolphin is a hybrid 1950s Corvette clone from China – Business Insider Amazon Prime Day Business Insider logoThe words “Business Insider”....

Breaking News

Best exercise bikes of 2020: NordicTrack, Peloton, & others – Business Insider Business Insider logoThe words “Business Insider”. Back to TopA white circle with...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Captain Of Success. All Rights Reserved.