Robinsons Land raises bond issue to P5 billion
Posted on July 11, 2009
Filed Under Philippine Bonds | Leave a Comment
Robinsons Land Corporation (RLC) has decided to raise the size of its maiden peso-denominated retail bond issue to P5 billion from P3 billion after strong demand from both retail and institutional investors resulted in an oversubscription
RLC Chairman James Go said in a disclosure to the Philippine Stock Exchange that the company was very pleased with the overwhelming and positive reception by investors to RLC’s debut in the local bond market.
Go said the issue was more than four times oversubscribed, adding that the strong support from bond investors highlighted the impressive credit standing of RLC and showed the market’s confidence with the company.
The Hongkong and Shanghai Banking Corporation Limited (HSBC) and SB Capital Investment Corporation were appointed as join issue managers.
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