The Consunji-led DMCI Project Developers, Inc. is launching next month the second tranche of a retail bond offer aimed at helping homebuyers save enough capital as downpayment for a residential property.
Operating under the brand DMCI Homes, the company plans to offer the balance of P500 million from March 7 to April 8, based on a preliminary prospectus dated Jan. 25.
The new bonds consist of tranche D due 2019, tranche E due 2021, tranche F due 2019 and tranche G due 2021.
SB Capital & Investment Corp. was tapped as sole issue manager and underwriter.
The sale of HomeSaver bonds is primarily targeted to encourage the low to middle-income market segment to save sufficient funds that will enable them to own a DMCI Homes property in the future, with capital-raising only secondary to the said purpose, the developer said in the registration statement.
Net proceeds from the sale of the debt papers will be used to finance working capital and general corporate expenses.
DMCI Homes completed the initial P500-million tranche of the P1-billion offer of HomeSaver bonds in November. The maiden issuance, maturing in three and five years, carried fixed interest rates of 4.5 and 5 percent, respectively.
This year, DMCI Homes is launching six to seven new projects next year comprising 14,000 units worth a combined P50 billion, higher than the close to 10,000 units worth P30 billion that were rolled out in 2015, the company?s Chief Financial Officer Joseph Ramil B. Lombos had said.
Apart from real estate, DMCI Holdings also has interests in power generation, water utility, construction, infrastructure development, and coal and nickel mining.