CEBU Landmasters Inc. (CLI) on Monday said it signed an P8-billion corporate notes facility agreement to finance strategic land acquisitions in new expansion areas of Puerto Princesa, Leyte, Butuan and General Santos, as well as cities where it already operates; namely Cebu, Bohol, Bacolod, Cagayan de Oro and Davao.
“Part of the proceeds will also fund the development of a 22-hectare central business district hub in Matina, Davao,” the company said in its disclosure to the Philippine Stock Exchange.
The issue, which was oversubscribed, consists of five-year corporate notes amounting to P1.3 billion; seven-year corporate notes amounting to P5.7 billion; and 10-year corporate notes amounting to P1.0 billion.
Bank of the Philippine Islands, China Banking Corp., Development Bank of the Philippines, Land Bank of the Philippines, Rizal Commercial Banking Corp. and Social Security System participated in the offer. VG Cabuag