BY UNICAPITAL SECURITIES
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.
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.