The Securities and Exchange Commission (SEC) approved Century Properties Group, Inc.’s shelf registration of its P6-billion debt securities, the property developer said in a disclosure on Friday.
The first tranche of the fixed rate retail bonds will be P2 billion with an oversubscription option of up to P1 billion five-year fixed rate retail bonds. The bonds will be due 2027 and will be listed and traded through the Philippine Dealing & Exchange Corp.
The debt securities are planned to be offered within three years, or a period allowed by the SEC, at an issue price of 100% of face value.
Century Properties is primarily engaged in the development, marketing, and sale of mid- and high-rise condominiums and single detached homes, leasing of retail and office space, and property management.
In the third quarter of 2021, the company’s net income attributable to parent went down 30.6% to P259.20 million from P373.36 million year on year.
From January to September 2021, attributable net income grew to P845.08 million or 1.6% from P831.49 million in the similar period in 2020.
On Friday, Century Properties shares dropped 1.18% or P0.005 to close at P0.42 each at the stock exchange. — Luisa Maria Jacinta C. Jocson
