Cebu Landmasters Inc. (CLI), a property developer in the Visayas and Mindanao regions of the Philippines, is raising P3 billion through a sustainability-linked notes facility.
The company said in a disclosure that the notes have a tenor of seven and 10 years and are being sold to institutional buyers.
CLI plans to use the proceeds for real estate development and general corporate purposes, aligning with its sustainability framework.
BPI Capital Corp. was the sole arranger and bookrunner for the transaction. BPI Asset Management and Trust Corp. served as the facility agent and paying agent.
Since its 2017 listing on the Philippine Stock Exchange, CLI has utilized various financial instruments, including its first bond offering in 2022 and preferred shares listing in 2024.
Earlier this year, the company also raised P3 billion from its first sustainability-linked bonds, which were listed on the Philippine Dealing & Exchange Corp.
As part of its sustainability efforts, CLI last month launched its first solar-integrated residential development, Casa Mira Homes GenSan. The 21-hectare project offers 1,218 solar-ready units. Some models include built-in 2.2-kilowatt panels that can store up to 5 kilowatt-hours, potentially cutting monthly household energy costs by an estimated P600 to P3,000. The units also feature large windows, water-saving fixtures, and rainwater storage tanks.
