Century Properties to raise P3 B via bond offer

MANILA—Century Properties Group Inc. plans to raise as much as P3 billion from a local offering of retail bonds to fund its expansion program.

In a disclosure to the Philippine Stock Exchange on Friday, CPG said its board had approved a plan to offer to the public unsecured fixed-rate peso denominated retail bonds worth at least P2 billion with an option to upsize by P1 billion.

The board also authorized CPG to apply for the registration and licensing of the bonds with the Securities and Exchange Commission and the listing of these bonds with the Philippine Dealing and Exchange Corp.

CPG has 28 years of experience in the real estate business. It has four subsidiaries, namely, Century City Development Corp., Century Limitless Corp., Century Communities Corp. and Century Properties Management.