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Rockwell Land issues P4B 7-year notes

[ Malaya.com.ph ] May 5, 2011
Rockwell Land Corp. completed a P4 billion issuance of seven-year bonds, the proceeds of which will be used for landbanking and obligation servicing.
The issuance was jointly arranged by First Metro Investment Corp. and PNB Capital and Investment Corp. Lenders were Metropolitan Bank and Trust Co., Philippine National Bank and Philippine National Bank-Trust Banking Group.
"We would like to thank the Metrobank Group and PNB for the success of this notes issuance. I believe this fund-raising activity is a testament of their support and confidence in Rockwell Land’s continuing ability to establish and deliver first-class real estate developments," said Nestor Padilla, president of Rockwell Land.
Established in 1995, Rockwell Land has built a reputation for building high-end residential and commercial projects. Its flagship project, Rockwell Center, is widely regarded as one of the country’s most successful high-end urban community developments.
Among Rockwell Land’s completed portfolio of high-profile developments within Rockwell Center are The Power Plant Mall, Rizal Tower, Luna Gardens, Amorsolo Square, Hidalgo Place, Joya Lofts and Towers, Manansala Tower, and One Rockwell.
In addition, the company developed the Rockwell Business Center, a premium office development located within the Meralco compound in Pasig. A joint venture with Meralco, this is Rockwell Land’s first foray into the fast-growing commercial office space market.
Ongoing developments include The Grove, which is on a 5.4-hectare site along E. Rodriguez Avenue (C-5) in Pasig City as well as the Edades Tower and Garden Villas, a 50-story high-end residential condominium development which will rise on the north side of the Rockwell Center.
Rockwell Land is owned by Meralco (51 percent) and First Philippine Holdings Inc. (49 percent).
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