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Century Properties to offer up to P3B worth of bonds

/ 05:28 AM January 31, 2019

Property developer Century Properties Group Inc. (CPG) plans to offer as much as P3 billion worth of bonds to the public.

In a disclosure to the Philippine Stock Exchange yesterday, CPG said it had obtained approval from its board to apply for a public offering of unsecured fixed-rate peso denominated retail bonds.

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CPG is set to file with the Securities and Exchange Commission a registration statement and prospectus for the retail bonds under the provisions of the Securities Regulations Code.

Recently, CPG also signed a deal with Davao-based businessman Dennis Uy to jointly develop a 2.6-hectare parcel at Clark Global City into a mix of residential and office buildings.

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The joint venture aims to develop a mix of residential and office buildings with support retail establishments.  This marks CPG’s debut in Clark, a former military base being transformed into the country’s next big metropolis.

CPG is banking on the phenomenal growth of Central Luzon, which has the highest number of occupied housing units; and also Clark, which has emerged as the second largest market for office after Metro Manila. —DORIS DUMLAO-ABADILLA

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TAGS: Century Properties Group Inc. (CPG), P3 billion worth of bonds, Philippine Stock Exchange
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