8990 HOLDINGS TO ISSUE P5B FIXED NOTES
8990 Holdings, Inc., a listed property developer, is set to offer up to P5 billion worth of peso-denominated fixed rate with an oversubscription option of up P4 billion which shall be offered and sold only to qualified institutional buyers.
The issuance of the debt notes was approved during the meeting of the board of directors of 8990 Holdings, Inc. held last 25 August 2020.
The board authorized the offer and issuance of peso-denominated fixed rate notes which shall be offered and sold only to qualified institutional buyers pursuant to Section 10.1 (l) of the Securities and Regulations Code.
Accordingly, the Notes shall be exempt from registration with the Securities and Exchange Commission. The Notes shall be enrolled and traded through the Philippine Dealing & Exchange Corporation. The Company has appointed BDO Capital & Investment Corporation as the sole issue manager, lead arranger, and sole bookrunner, and RCBC Capital Corporation as co-arranger, in respect of the offer and issuance of the Notes.
The final terms of the Notes will be determined after the bookbuild process and prior to the issuance thereof. The company shall provide the necessary updates regarding this in due course, it disclosed to the PSE.