Century Properties Group, Inc Returns to PDEx with PHP 3 Billion Fixed Rate BondsPosted on: March 1, 2021
01 March 2021, Makati, Philippines — Century Properties Group, Inc. (CPG) listed its PHP 3 Billion 3-year Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bond carries an interest rate of 4.8467% per annum to be paid quarterly. The issuance exceeded its original size of PHP 2 Billion due to strong investor demand.
This is CPG’s third listing since their maiden issuance back in 2014.
PDEx President and Chief Executive Officer Antonino A. Nakpil, in his welcome remarks acknowledged CPG’s efforts and success throughout the pandemic. “It is good to see that CPG has hurdled past the trials of 2020, especially seeing how the real estate industry was hard hit by the effects of the public health-induced economic crisis. We note that CPG has faced the challenges as a good corporate citizen with efforts in relief operations for victims of Typhoon Ulysses and transforming the Philippine Sports Stadium in Bulacan into a mega-testing facility,” said Mr. Nakpil.
On the other hand, CPG President and Chief Executive Officer, Mr. Jose Marco R. Antonio is forging ahead with its plans to create new-generation real estate. “There is no denying that the business environment continues to be challenged by the effects of the coronavirus pandemic, but we have all forged ahead in our common goal to drive business activity, provide livelihood for our people, and help rebuild our economy. The learning experiences of 2020 have only strengthened CPG’s resolve to move forward, and to do so by creating New Generation Real Estate that is responsive to the needs of the times,” according to Mr. Antonio.
“Along with business resilience and growth, CPG has also made sustainability and innovation as part of our core guiding principles, to ensure that we consciously build a better company and contribute to a better future for our country,” added Mr. Antonio as he spoke about CPG’s initiatives to help the country towards recovery.
This 3rd listing for 2021 brings the year-to-date total of new listings to PHP 33.37 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.44 Trillion issued by 54 companies, comprised of 204 securities.