Rockwell Land bond offering OKd by SEC

Title Rockwell Land Secures SEC Approval for P10 Billion Bond Offering

Blog Post

Significance of Rockwell Land's P10 Billion Bond Offering

In today's fast-paced market, securing regulatory approval for a bond offering is a noteworthy achievement for any company. Rockwell Land Corp. has recently achieved this milestone, receiving approval from the Securities and Exchange Commission (SEC) for a fixed-rate bond offering worth up to P10 billion. This development is a testament to the company's financial stability and its commitment to expanding its operations.

The bond offering will involve the issuance of up to P7 billion in fixed-rate bonds, with an oversubscription option of up to P3 billion. The bonds will be issued in two series Series A three-year bonds due 2029 and Series B five-year bonds due 2031. The interest rates for these bonds are 5.5666 percent per annum for Series A and 5.8595 percent per annum for Series B.

The bond offering period will run from March 8 to March 10, with the company targeting issuance and listing on the Philippine Dealing and Exchange Corp. on March 18. The bonds will be issued at 100 percent of face value, with interest computed on a 30/360 day-count basis and payable quarterly in arrears.

This bond offering represents the first tranche of a P20-billion shelf registration, demonstrating Rockwell Land's ambition to further expand its financial capabilities. The proceeds from the offering will be used to partially fund capital expenditures, including land development and construction costs for various ongoing projects.

Philippine Ratings Services Corp. has assigned a PRS Aaa rating with a stable outlook to the proposed offering, indicating obligations of the highest quality with minimal credit risk. This rating is a testament to Rockwell Land's financial strength and its ability to manage its debt effectively.

The joint issue managers and joint lead underwriters and bookrunners for the offering are BDO Capital & Investment Corp., First Metro Investment Corp., PNB Capital and Investment Corp., and RCBC Capital Corp. These reputable firms will work together to ensure the successful execution of the bond offering.

For investors, the Rockwell Land bond offering presents an attractive opportunity to diversify their portfolios and earn a stable return. The fixed-rate bonds offer a predictable income stream, making them an attractive option for those seeking to mitigate market volatility.

In conclusion, the SEC approval for Rockwell Land's P10 billion bond offering is a significant development that underscores the company's financial stability and its commitment to expanding its operations. The bond offering presents a unique opportunity for investors to diversify their portfolios and earn a stable return. With its strong financial profile and reputable issue managers, Rockwell Land's bond offering is an opportunity that should not be missed.

Keywords Rockwell Land, bond offering, SEC approval, fixed-rate bonds, investment opportunities.

I made the following changes

Improved the tone to be more professional and neutral
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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.