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CEBU LANDMASTERS, INC. (CLI) has obtained approval from the Securities and Exchange Commission (SEC) to offer up to P5 billion in sustainability-linked bonds, representing the third and final tranche of the company’s P15-billion debt securities program.

In a regulatory filing on Monday, CLI said the SEC granted approval on Nov. 21. The bonds, denominated in Philippine pesos, will be structured into three series with staggered maturities: Series F due 2029, Series G due 2032, and Series H due 2035.

The base offer is set at P3 billion, with an oversubscription option of P2 billion. The offer period will run from Nov. 24 to 28, with issuance and listing on the Philippine Dealing and Exchange Corp. expected on Dec. 5.

Previously, CLI said the net proceeds from the offering would be used to refinance project developments, settle maturing obligations in 2025, and support general corporate expenses, among other purposes.

CLI’s sustainability-linked bonds received a PRS Aa plus credit rating with a stable outlook from the Philippine Rating Services Corp., reflecting the company’s strong management, competitive position in the Visayas and Mindanao markets, and consistent earnings growth.

“The PRS Aa rating signifies high quality with very low credit risk and underscores CLI’s strong capacity to meet its financial commitments,” the filing noted.

In March, CLI raised P5 billion from its first sustainability-linked bond issuance to finance the construction of 16,000 affordable housing units in Visayas and Mindanao by March 2029.

The company currently manages a portfolio of 130 projects across 17 cities, covering offices, residential developments, mixed-use projects, resorts, hotels, co-living and co-working spaces, and townships.

On Monday, CLI shares rose 1.32% or three centavos to close at P2.30 apiece. — Alexandria Grace C. Magno

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