Megawide Construction Corporation Gets Go-Ahead from the SEC for its Fixed-Rate Bonds

Megawide Construction Corporation received the Order of Registration and the Certificate of Permit to Offer Securities for Sale from the SEC for the offer and sale of fixed-rate bonds in the aggregate principal amount of P4,000,000,000.00, with an oversubscription option of up to P1,000,000,000.00, which shall be issued in up to three (3) series – Series C, maturing in three (3) years from its issue date at a rate of 7.6348%; Series D, maturing in five (5) years from its issue date at a rate of 8.0580%; and Series E, maturing in seven (7) years from its issue date at a rate of 8.4758% (Bonds).

The offer period shall commence at 9:00 A.M. on 28 June 2024 and end at 5:00 P.M. on 4 July 2024.

The Bonds are intended to be issued and listed on the Philippine Dealing Exchange (PDEx) on 11 July 2024. The net proceeds shall be used by Megawide to refinance its existing debt obligations, business development opportunities, and fund general corporate requirements.

The Bonds have been assigned an issue credit rating of PRS Aa with a Stable Outlook by the Philippine Rating Services Corporation (PhilRatings).