“By raising capital ahead of need, we are enhancing financial flexibility while remaining well-positioned to pursue future opportunities,” president and CEO Marco Antonio said in a statement.
The five-year fixed-rate notes were privately placed with institutional investors and later enrolled with the Philippine Dealing & Exchange Corp.
Proceeds will fund land banking in Calabarzon, Central Luzon, Panay and Davao, as well as the construction of pre-sold units under its First-Home Residential business.
China Bank Capital Corp. served as sole arranger and bookrunner for the transaction.
The fundraising also broadens Century’s long-term funding base, reducing reliance on a single source of capital while giving it greater flexibility to pursue expansion opportunities.
Management is leaning on the country’s structural housing shortage and steady end-user demand to support its next phase of growth despite an uncertain economic environment.
—Edited by Miguel R. Camus
