The property unit of DMCI Holdings Inc. of the Consunji Group obtained the approval of the Securities and Exchange Commission to issue another P500 million worth of bonds that aims to offer an alternative saving instrument for future home buyers.
Documents filed with the SEC showed that DMCI-Project Developer Inc., which is operating under the brand DMCI Homes, would issue the remaining P500 million out of the P1-billion HomeSaver Bonds registered with the corporate regulator in four tranches.
The tranche D bonds to be issued monthly for 36 month carry an interest rate of 4.75 a year, while the tranche E bonds to be issued monthly for 60 months fetch an interest rate of 5.25 percent per annum.
Tranche F due 2019 and tranche G due 2021, both to be issued one-time on the initial issue date as a single upfront investment and payable in lump sum, will carry an interest rate of 4.75 percent and 5.25 percent, respectively.
“The second offer is primarily intended to assist retail investors in accumulating savings to be used as down payment for a DMCI Homes unit,” the company said.