Century Properties Group Inc. (CPG), the upscale property firm of Executive Chairman of the Board Jose E.B. Antonio, said it plans to raise as much as $150 million in fresh funds from a dollar-denominated bond issue to partly finance upcoming projects up to 2019.
In a disclosure to the Philippine Stock Exchange, CPG said its board of directors has approved the offshore bond issue, which may only be offered “to not more than nineteen (19) non-qualified buyers” and to any number of qualified buyers, as defined in the Securities Regulations Code of the Philippines.
The bonds will be listed on the Singapore Stock Exchange. The actual size, timetable and bookrunners of the bond offer are still subject to board deliberations.
This will be CPG’s second bond issue following its P2.7-billion bond offering in September last year.
Both fundraising efforts are intended to contribute to the company’s capital expenditures for select residential and commercial projects set for completion between 2017 and 2019. These projects will total more than 3,400 residential units on more than 300,000 square meters (sq m) of gross floor area.
The maiden bond offer in September consisted of three-, five-, and seven-year bonds with interest rates of 6 percent, 6.6878 percent and 6.9758 percent, respectively.
The company said it expects to complete a total of 31 residential buildings up to 2019. Its portfolio of launched residential projects is over 90 percent pre-sold.
Century said it will turn over units at the 28-storey Centuria Medical Makati by yearend. Centuria is an outpatient IT medical arts building with more than 500 doctors’ clinics and other medical facilities such as a diagnostic laboratory, day surgery center, and pharmacy.
In March, the company opened Century City Mall to the public. It is a 50,000-sq m, five-level lifestyle commercial center, the newest mall in Makati City in nearly a decade.
As of the first half of 2014, CPG has completed 25 condominiums amounting to 8,777 units. The company’s projects include Essensa East Forbes in Fort Bonifacio; SOHO Central in the Greenfield District, Mandaluyong City; the Gramercy Residences and Knightsbridge Residences in its flagship Century City, Makati City; and the first three towers of Azure Urban Resort Residences in Paranaque City.
Incorporated in 1975, CPG is involved in the real еstatе business through its wholly-owned subsidiaries Century City Development Corp., Century Limitless Corp., Century Communities Corp. and Century Properties Management.
To our Century Properties partners, stakeholders, and communities,
As we closely monitor the developments on the coronavirus (COVID-19) and the government’s declaration of a community quarantine in the National Capital Region, we recognize that we have entered a unique and challenging time.
Despite this, we want to assure you that your safety and well-being are our priority. We are grateful that you continue to choose us as your partner and developer, and trust us to handle your business, property investment, and home with utmost professionalism and genuine care.
To safeguard your health, we have implemented steps to ensure that all safety measures and guidelines from the Department of Health and the World Health Organization are disseminated to our properties and communities, and our property management teams are well staffed and prepared with the proper contingencies to assist the needs of our tenants and residents. We are prepared for medical emergencies, and protocols are in place should we encounter COVID-19 cases within our properties. We have no reported cases at this time, but we are preparing for all eventualities.
We also augmented our equipment and know-how to implement additional precautionary measures in our communities, including the regular disinfection of common areas and tapping the expertise of hospital-grade cleaning providers to train our teams in applying high standards of sanitation in our properties.
Our employees are likewise important to us, as they are the lifeblood of our operations and services to you. Our valuable concierge, security personnel, housekeeping, and engineering staff will continue to serve you round the clock. And to do so without compromising their health and safety, they have been equipped with protective gear and are strictly observing hygiene measures to reduce the risks of transmission.
Furthermore, our support staff who are servicing our partners, tenants, and property buyers are adopting flexible working arrangements to continue to assist you. We will be open with augmentation from personnel who will be working from home as part of the contingencies we have in place. Our partner and client-facing teams will inform you of any adjustments on this end, and we hope for your understanding as we also protect the health of our employees and their families, and support government efforts to contain the further spread of COVID-19 in the country.
Rest assured that no matter the difficulties, we are here for you and we are here to stay. Our company has been around for 34 years, with our strong foundations built upon the wisdom and experience of our management, and the expertise of our young, committed, and dependable team. We have endured disasters and economic downturns for more than three decades, and with your help and cooperation we can weather this challenge together and come back from this even stronger.
As you also do your personal assessment of what’s going on, let us know how we can help you.
If you have any concerns with your property purchase, call your agent or send our documentations and collections team a message. We are going to provide utmost consideration and assistance to our clients who have been diagnosed with COVID-19. Let’s talk and please don’t worry.
If you are feeling unwell or need medical assistance, call or Viber our building concierge. Our Urgent Care Clinic at Centuria Medical Makati, located in Century City, is open 24 hours for your medical needs should you feel worried about possible coronavirus symptoms or other illnesses.
Retail tenants are also welcome to contact us for questions concerning the latest guidelines from the government as malls and other public-facing establishments reduce operating hours.
In case stores have run out of alcohol, sanitizers, or hygiene kits, let our concierge know and we will do our best to help source them for you.
Contact details of our various support teams are below. Or simply reply to this e-mail so we can have someone assist you immediately.
We are here to help ease your concerns. We are confident that the resilience of Filipinos, coupled with everyone’s perseverance and cooperation, will help our country emerge stronger from this challenge.
Thank you for your time and please remember to take the necessary health precautions for you and your family. We pray for everyone’s safety as we navigate this challenge and will update you as we have new and pertinent information.
MARCO R. ANTONIO
President and CEO
Century Properties Group
Please contact us for your concerns:
Urgent Care Clinic
Centuria Medical Makati
+63 2 7793 8750
Property Management Office
+63 8888 4726
+63 917 589 6560+63 8478 5157
Property Management Office
+63 917 672 4050
+63 2 8860 9500
local 100 and 101+63 2 8860 9500
local 555 and 333