Robinsons Land Corp. announced on Wednesday that its planned P15-billion bond issuance attained the highest issue credit rating. READ:
The real estate developer’s proposed bond issuance offers up to P10 billion with an oversubscription option of up to P5 billion. It is the first tranche of the company’s shelf-registered debt securities program in the aggregate principal amount of P30 billion.
“PhilRatings’ assignment of the highest issuer rating is a recognition of Robinsons Land’s strong fundamentals and financial stability. It is a vote of confidence in the company’s ability to create long-term shareholder value,” said Frederick D. Go, the company’s president and chief executive, in a statement.
A stable outlook is an indication that the rating “is likely to remain unchanged” in the next 12 months.