CityLand plans P1.5B debt note offering

Condominium developer Cityland Development Corp. plans to issue P1.5 billion worth of commercial papers to support its funding requirements.

In a regulatory filing, Cityland said it filed an application with the Securities and Exchange Commission for the issuance of debt notes.

CDC’s projects include middle to high-rise office, commercial and residential condominiums in Makati and Mandaluyong City, affordable houses in Pasig City and residential subdivisions and farmlots in Bulacan and Cavite.

One of the company’s projects is the commercial and residential condominium, Cityland Makati Executive Tower II.

CDC’s other projects are the Corinthian Executive Regency, Rada Regency, Manila Executive Regency, Makati Executive Tower III, Mandaluyong Executive Mansion III and Makati Executive Tower IV .

The company owns various land and buildings in and outside of Metro Manila and several lease contracts.

On the other hand, the company’s main subsidiaries are real estate companies City & Land Developers Inc. and Cityplans.