In a statement, CPG said it initially planned to raise
"The company raised
Antonio, who is also CPG chairman, said that the strong subscription take-up of the bonds will help the company fund its expansion and diversification projects and plans.
"Not only will the bond enable us to diversify our funding sources, it also helps us get a step closer towards our goal of building a bigger and more diversified company," Antonio said.
"We are grateful for the success of our maiden bond issuance and the confidence accorded to us by the investing public. This is a testament to the company's sound financial management and profitable business model," he added.
The bond offer is divided into three series: three-year bonds with 6 percent interest rate due 2017; five-year bonds to mature in 2020, with an interest of 6.6878 percent, and seven-year bonds with 6.9758 percent interest rate.
The bonds, which were offered to investors from
According to the rating, CPG will maintain its hold and diversification in its market segments, as well as receive continued patronage from its overseas Filipino market.
The company said it expects to complete a total of 31 residential buildings from its listing in 2012 to 2019. Its portfolio of launched residential projects is over 90 percent pre-sold.
CPG also expects to complete four commercial buildings, with over 160,000 square meters (sqm) of leasable area, in 2020. These include the world's first Forbes-branded commercial tower to rise in
The firm said it will turn over the 28-storey Centuria Medical Makati by yearend. This is an outpatient IT medical arts building with more than 500 doctors' clinics and other medical facilities such as a diagnostic laboratory, day surgery center, and pharmacy.
In March, the company opened
As of the first half of the year, CPG completed 25 condominiums, amounting to 8,777 units. The company's projects include Essensa East Forbes in Fort Bonifacio; SOHO Central in the
Incorporated in 1975, CPG is involved in the real estate business through its whollyowned subsidiaries:
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