NLEX Corp. has secured clearance from the Securities and Exchange Commission (SEC) for its shelf registration of up to P25 billion in fixed rate bonds, with up to P6 billion to be issued in the first tranche.
The SEC in an email to reporters said it has approved NLEX’s registration statement submitted last June 5, consisting of fixed rate bonds to be issued in several tranches within a span of three years.
For the first tranche, NLEX Corp. looks to raise up to P4 billion with an oversubscription option of up to P2 billion from the issuance of seven-year Series A due 2025 and 10-year Series B bonds due 2028.
The Series A bonds are set to have a coupon rate of 6.46-6.76% annually, while the Series B bonds are at 6.7393-7.7023 per annum.
The company engaged BDO Capital & Investment Corp. as the issue manager, bookrunner, and joint lead underwriter. First Metro Investment Corp. will also act as joint lead underwriter. — Arra B. Francia