Robinsons Land Corp. said Monday it plans to raise up to P15 billion from the issuance of fixed-rate retail bonds. READ MORE:
RLC said it filed with the Securities and Exchange Commission an application to issue P10 billion worth of retail bonds, with an oversubscription option for another P5 billion.
RLC said it would use the proceeds from the fund raising activity to fully repay maturing debt and partially fund capital requirements of ongoing projects. It also appointed Philippine Rating Services Corp. to issue the credit rating on the proposed offering. RCR said in a statement its board of directors approved the declaration of cash amounting to P0.977 per outstanding common share, which is 0.10 percent higher than cash dividend from the previous quarter.“RCR continues to deliver good results which enabled us to provide increasing quarter-on-quarter cash dividends to our shareholders,” RCR president Jericho Go said.
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