Robinsons Land Corporation (RLC) could raise P30 billion in a series of bond offerings as it looks to expand its malls, hotels and resorts, logistics and industrial facilities, and projects under Robinsons Land’s residential and integrated development divisions.
In its 4 August meeting, the Securities and Exchange Commission (SEC) approved the multi-billion fund-raising activity of RLC through the debt securities program.
The Commission En Banc resolved to render effective the registration statement of Robinsons Land covering up to P30 billion of bonds, subject to the company’s compliance with remaining requirements. Robinsons Land may offer the bonds in tranches within three years.
For the first tranche, the listed property developer could net up to P14.81 billion by offering up to P10 billion in Series E bonds due 2025 and Series F bonds due 2027, with an oversubscription option of up to P5 billion.
A portion of the proceeds will likewise go to land acquisition, repayment of short-term loans, and general corporate purposes.
The first tranche of bonds will be offered at face value and listed on the Philippine Dealing & Exchange Corp.
Robinsons Land engaged BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, First Metro Investment Corporation, and SB Capital Investment Corporation as joint issue managers, joint lead underwriters, and joint book runners for the transaction.