Megaworld Corp. is planning to issue 10-year US-dollar denominated fixed rate notes, the property firm told the Philippine Stock Exchange Wednesday.
The terms of the offer, including the size and price, have yet to be finalized. Proceeds from the issue will be used for general corporate purposes.
The notes will be listed on the Singapore Stock Exchange Securities Trading Limited.
Megaworld has tapped UBS AG as sole bookrunner for the issue.
The company, which is known for its live-work-play township projects, has earmarked a record capital spending program of P35 billion this year.
For the first half of 2013, Megaworld intends to launch more than 10 new projects.
In 2012, the firm sold more than P63.5 billion worth of residential projects, up 71 percent from the previous year. — BM, GMA News
source: gmanetwork.com
