Frederick Go gets SEC go signal to proceed with RLC’s P15B bond offer

The property arm of the Gokongwei family has obtained approval from the Securities and Exchange Commission to raise as much as P15 billion from the offering of three- and five-year retail bonds.

Robinsons Land will offer to the public up to P10 billion worth of Series E bonds due 2025 and and Series F bonds due 2027 with an oversubscription option of up to P5 billion.

The bonds comprise the first tranche of RLC’s debt securities program.

Net proceeds from the offering amounting to P14.81 billion, assuming the oversubscription option is fully subscribed, will be used to fund the development of malls, hotels and resorts, logistics and industrial facilities, as well as projects under RLC’s residential and integrated developments divisions.

A portion of the proceeds will likewise be channeled to land acquisitions, repayment of short-term loans and general corporate purposes.

BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., First Metro Investment Corp. and SB Capital Investment Corp. are the joint issue managers, lead underwriters and bookrunners for the transaction.

Indonesian islanders file Holcim climate complaint

Residents of the Indonesian island of Pulau Pari have filed a complaint against the cement giant Holcim, demanding compensation for climate damage, in the first move of its kind in Switzerland, the NGO backing them announced Wednesday.

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