Cebu Landmasters Receives Permit to Sell from the SEC for its Sustainability-Linked Bonds

Leading VisMin developer Cebu Landmasters, Inc. (CLI) received from the Securities and Exchange Commission (SEC) on March 7, 2025 the Certificate of Permit to Offer Securities for Sale for its Sustainability-Linked Bonds (Bonds) consisting of a base principal amount of up to Three Billion Pesos (P3,000,000,000.00), with an oversubscription option of up to Two Billion Pesos (P2,000,000,000.00). This represents the second tranche of securities previously registered under CLI’s Shelf Registration of Fifteen Billion Pesos (P15,000,000,000.00) Debt Securities Program, covered under MSRD Order No. 70, series of 2022.

The coupons have been set for Series D 3-year Bonds at 6.6348% p.a., and Series E 5-year Bonds at 6.9157% p.a. The offer period will be from March 10 – 14, 2025, with issue and listing of the Bonds with the PDEx scheduled on March 21, 2025.

CLI received one of the highest credit ratings from the Philippine Rating Services Corporation of PRS Aa plus with a Stable Outlook, reflecting the Company’s sound management and strategy, with a sustained competitive advantage in the VisMin markets, and sustained earnings growth. Obligations rated “PRS Aa” are of high quality and are subject to very low credit risk. The obligor’s capacity to meet its financial commitment on the obligation is very strong. The “plus” further qualifies the assigned rating. A “Stable Outlook” is defined as “the rating is likely to remain unchanged in the next 12 months”.