MANILA, Philippines ? The Philippine Dealing and Exchange Corp. (PDEx), the country's fixed-income exchange, has approved the listing of P10 billion bonds issued late last year by the Gokongweis' property development arm Robinsons Land Corp.

In a disclosure to the Philippine Stock Exchange on Thursday, RLC said PDEX had cleared the listing ? which shall henceforth pave the way for the secondary market trading ? of following RLC bonds effective this March 18:

? P5 billion worth of fixed-rate five-year bonds carrying an interest rate of 8.5 percent per annum due July 14, 2014; and
? P5 billion worth of fixed rate five-year bonds carrying an interest rate of 8.25 percent p.a. due Aug. 27, 2014.

The bond issues carry the highest credit rating of PRS Aaa by Philippine Ratings Services Corp. (PhilRatings), indicating that the debt issue is of the highest quality with minimal credit risk and that the issuer?s capacity to meet its financial obligations is extremely strong.

In assigning the rating, PhilRatings took into account RLC?s consistent robust operating profit and strong cash flow from a diverse portfolio of real estate assets.

RLC, the real-estate arm of JG Summit Holdings, Inc., is one of the Philippines? leading real estate developers in terms of revenues, number of projects and total project size.

It is engaged in the development and operation of shopping malls and hotels, and the development of mixed-use properties, office and residential buildings, as well as land and residential housing developments, including socialized housing projects located in key cities and other urban areas nationwide.