By Iris Gonzales (The
Philippine Star) | Updated March 19, 2016 - 12:00am
“The second offer is
primarily intended to assist retail investors in accumulating savings to be
used as down payment for a DMCI Homes unit. Capital raising is only secondary
to the foregoing purpose.
MANILA, Philippines - DMCI
Homes, the Consunji group’s property arm, has obtained the green light from the
Securities and Exchange Commission (SEC) to proceed with the second offering of
P500 million in Homesaver Bonds.
“The second offer is
primarily intended to assist retail investors in accumulating savings to be
used as down payment for a DMCI Homes unit. Capital raising is only secondary
to the foregoing purpose. In the event
the issuer is unable to raise the P500 million second offer issue size, the
company will finance its working capital and general corporate expenses using
inter ally generated funds,” DMCI said in its registration statement.
DMCI Homes is the housing
development arm of the Consunji Group’s DMCI Holdings Inc. It has an existing
shelf registration from the Securities and Exchange Commission (SEC) to issue
up to P1 billion in Homesaver Bonds.
The company successfully
sold P500 million in November last year for the first offering.
The P500 million bonds were
composed of three and five-year bonds and were offered in three tranches.
DMCI Homes is gearing up to
launch nine new projects next year with total value of P50 billion.
It also has plans to mark
its first foray in mass housing, with the first project possibly in Bataan.
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