(The Philippine Star) | Updated November 26,
2012 - 12:00am
MANILA, Philippines - DMCI Homes which
raised recently P10 billion through a seven-year fixed rate corporate notes
facility will use the proceeds to finance the continued development and
construction of DMCI Homes’ resort-inspired communities, as well as the
acquisition of real estate properties in strategic locations around Metro
Manila. The signing ceremony for the facility’s agreement attended by the
developer’s top executives and by investing institution’s senior officers,
reaffirmed DMCI Homes’ status as one of the most trusted real estate players in
the country today with a portfolio of more than 40 successful projects, which
continues to grow.
“The fact that the initial offer of P5
billion was oversubscribed by more than 100 percent – prompting DMCI Homes to
fully exercise its oversubscription option, thus increasing the issue size of
these notes to a hefty P10 billion – is a clear indication that the lenders
have recognized the strengths of the company,”said Walter Wassmer, senior
executive vice president, BDO Unibank, Inc. in his speech on behalf of the note
holders during the ceremonies.
The facility’s note holders include
BDO Unibank Inc., Bank of the Philippine Islands, Land Bank of the Philippines,
Security Bank Corp., BDO Leasing and Finance, Inc., United Coconut Planters
Bank, ALFM Peso Bond Fund, Inc., EastWest Banking Corp., and BPI Asset
Management and Trust Group. Sycip Salazar Hernandez & Gatmaitan acted as
counsel for the facility’s note holders, while Castillo Laman Tan Pantaleon
& San Jose acted as DMCI Homes’ counsel.
BDO Capital president Eduardo
Francisco expressed elation at being able to act as lead arranger and sole book
runner for a corporate notes issue again for DMCI Homes, the company’s second
corporate notes transaction since last year’s P5 billion issue.
The recent P10 billion facility’s
proceeds will help ensure DMCI Homes’ seamless implementation of planned new
residential projects, spurring economic growth through job creation in the
construction industry and other related sectors. According to DMCI Homes’
chairman Isidro Consunji.
“We are reaping tremendous success
this year, and with the launch of high-rise projects and mid-rise communities,
we are able to add more than 4,000 residential units to our inventory this
year. The partnership that we have forged has been instrumental in this
achievement.”
In 2013, the company is expecting to
develop more projects in strategic locations in Metro Manila, such as in Pasay,
Taguig, Makati, Mandaluyong, Pasig, and Quezon City.
“This is the biggest single financing
exercise that we’ve done,” said Ramil Lombos, DMCI Homes senior vice president
for finance and operations. “It will fast-track some of our projects in terms
of the schedules, increase our inventory, and at the same time, enable us to
acquire more properties for land banking that can be developed two years from
now.”
For end-users, this means that “the
choices will be wider; we can offer homes that are of exceptional value to more
families in the middle-income segment so they can expect more exciting projects
from DMCI Homes.”
