Megaworld sets P30B shelf bond program | Inquirer Business

Megaworld sets P30B shelf bond program

/ 10:27 AM January 19, 2017

Tycoon Andrew Tan-led property developer Megaworld Corp. has set a P30-billion three-year bond offering program to fund expansion program.

In a disclosure to the Philippine Stock Exchange on Thursday, Megaworld announced that its board had approved this debt securities program with an initial issuance of fixed-rate bonds of up to P8 billion and an oversubscription option of up to P4 billion.


Megaworld has appointed BDO Capital & Investment Corp. as issue manager, lead underwriter and bookrunner for the proposed bond offering.

“The proceeds from the bonds will be used to fund the capital expenditures of the company,” the disclosure said.


The management was authorized to determine the pricing, terms and conditions and other features of the bonds.

The borrowing program will use the shelf registration window of the Securities and Exchange Commission (SEC) which allows issuers like Megaworld to register and sell under the same prospectus and other regulatory filing requirements a certain volume of securities that the company does not intend to use up right away.

In the event that the oversubscription option is not fully exercised, the unused portion will be made part of the remaining bonds in the shelf to be used within a three-year period.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: bond offer, MEG, Megaworld, shelf registration
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2022 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.