Makati, Philippines — Century Properties Group Inc. (CPG) returns to the local debt capital market with the issuance and listing of its PHP 3 billion Fixed Rate Bonds due 2026, 2028 and 2030. The CPG bonds carry coupon rates of 6.5760% p.a., 7.4054% p.a., and 7.6800% p.a., respectively, to be paid on a quarterly basis.
PDEx President & CEO Antonino A. Nakpil, in his welcome remarks, said: “The corporate issuers, as opposed to bank issuers, are continuing the pattern of issuing “real bonds”, that is the bonds for capital funding purposes, and that is still a positive sign that the corporate engines of the economy are humming, and firms’ strategies are progressing despite macroeconomic uncertainties. Also consistent is the support from investors which is staying sufficient enough to trigger oversubscription options, like this one.”
On his end, CPG President & CEO Marco R. Antonio remarked: “The availability of domestic liquidity, coupled with the willingness of local investors to support the plans of Century Properties Group, is reflective of the market optimism for the industry, albeit cautiousness and prudence amidst persisting challenges in the macro-economic environment.”
“We will continue to be good stewards and managers for all our stakeholders and investors as we take a positive view on the proven robust and resilient market need for our first home housing projects. We will heed the market demand for more quality first homes. We will serve Filipinos with product offerings ranging from economic market to mid-income market. Where the location and market call for, we will build township projects that will incorporate commercial, retail, and mall, in our first home developments,” Antonio added.
This 3rd admission for 2023 brings the year-to-date total of new listings and enrollments to PHP 27.8 billion, pushing the total level of tradable corporate debt instruments to PHP 1.36 trillion issued by 53 companies, comprised of 193 securities.
