ROBINSONS Land Corp. on Wednesday announced that its board of directors approved the offer and issuance of peso-denominated fixed rate bonds in the aggregate principal amount of up to P10 billion, with an oversubscription option of up to P5 billion.

The issuance is part of the initial offer from a shelf registration of a debt securities program in the aggregate principal amount of P30 billion, subject to the remaining requirements.

The firm tapped the Philippine Depository and Trust Corp. as registrar and paying agent; and BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., First Metro Investment Corp., and SB Capital Investment Corp. as the joint lead underwriters and bookrunners.

The bonds have maturity periods ranging from three to five years or such other periods as may be determined, according to Robinsons Land.

In the first quarter, the company reported a net income of P1.4 billion attributable to its owners, down 52.5% from P2.95 billion a year earlier. Gross revenues reached P6.69 billion, or more than twice lower than P16.74 billion in the same quarter last year.

Its subsidiaries include Robinson’s Inn, Inc.; Robinsons Realty and Management Corp.; Robinsons Properties Marketing and Management Corp.; Robinsons (Cayman) Ltd.; Altus Angeles, Inc.; Altus Mall Ventures, Inc.; GoHotels Davao, Inc.; RLC Resources, Ltd.; Bonifacio Property Ventures, Inc.; Bacoor R and F Land Corp.; and RLGB Land Corp.

At the stock exchange on Wednesday, Robinsons Land went up by 0.31% or six centavos to P19.46 per share. — Luisa Maria Jacinta C. Jocson