HOUSE to issue PHP 5 Billion worth of bonds in May

19 Mar


Mass housing developer 8990 Holdings, Inc. (HOUSE) plans to pursue its PHP 5 billion local bond debut by May this year.

In a statement issued Tuesday, SB Capital president Ricky Galang said 8990 Holdings’ bond offering was “on track for a May issue date,” refuting rumors that the exercise would be postponed.

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SB Capital and BDO Capital & Investment Corp. are the joint issue managers for this exercise.

The principal purpose of the bond float was not necessarily to raise fresh capital, but to convert short-term debt into long-term liabilities.

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Posted by on March 19, 2015 in Corporate News, HOUSE, Stock Market


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