The Securities and Exchange Commission (SEC) has approved Megawide Construction Corp.’s P5-billion bond offering, enabling the company to expand its portfolio and refinance existing debt.
The SEC said in a statement on Wednesday that its commission en banc had cleared the registration for up to P4 billion in fixed-rate bonds, with an additional P1 billion available through an oversubscription option.
The offering will include series C bonds due in 2027, series D bonds due in 2029, and series E bonds due in 2031.
Proceeds will be used to refinance existing debts and fund business development opportunities, among other general purposes.
The offer period is set from June 24 to July 3, with the bonds scheduled for listing on the Philippine Dealing and Exchange Corp. on July 11.
PNB Capital, RCBC Capital, and SB Capital will serve as joint issue managers, lead underwriters, and bookrunners for the offer.
