Century Properties raises P2.7B from maiden bond offer

Century Properties Group Inc. (CPG), the property firm of former ambassador Jose E.B. Antonio, has completed the listing and issuance of its maiden bond offering on Tuesday, raising P2.7 billion to partly finance the company’s capital expenditures (capex).

In a statement, CPG said it initially planned to raise P2 billion with an oversubscription option of P1 billion via debt sale. Due to strong demand, the oversubscription allowance was exercised, therefore P2.7 billion worth of bonds was listed at the Philippine Dealing and Exchange Corp.