The bonds will be composed of P60-billion fixed-rate peso-denominated bonds with an oversubscription option of P20 billion.
It also authorized the filing of the listing application of the peso bonds with the Philippine Dealing Exchange Corp. Cebu Landmasters, Inc. downsized the initial tranche of its shelf offering to P5 billion from P8 billion, the firm disclosed on Thursday. CLI said that the issue size of its maiden fixed rate bond offering will have an aggregate principal amount of P5 billion across three tenors.
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