Rockwell Land received PRS Aaa rating for its up to P10 Billion proposed fixed-rate bond issuance

Rockwell Land Corporation ("ROCK" or "Rockwell Land") received a PRS Aaa rating with a Stable Outlook from the Philippine Ratings Services Corporation for its proposed bond issuance of up to P10 billion. This is the highest possible rating, denoting obligations of the highest quality with minimal credit risk and underscores Rockwell Land's financial strength.

In a filing of a registration statement with the Securities and Exchange Commission (SEC), ROCK returns to the Philippine debt capital market after thirteen years with its proposed offer to the public of up to P7,000,000,000.00 fixed-rate bonds with an oversubscription option of up to P3,000,000,000.00 to be issued in up to two (2) series with three (3)-year and five (5)-year tenors (the "Offer").
 
The bonds are intended to be issued at 100% face value, and interest will be calculated on a 30/360 day count basis to be paid quarterly in arrear. The target offer period for the bonds will commence on March 4, 2026 and end of March 10, 2026. Additionally, the bonds will be listed on the Philippine Dealing & Exchange Corp.
 
Net proceeds from the Offer will be used to partially fund capital expenditures for land development and the construction costs of ROCK's various existing projects such as its horizontal residential developments, Power Plant Mall Angeles, Rockwell IPI, Aruga Mactan Hotel and Rockwell Center Bacolod.
 
BDO Capital & Investment Corporation and First Metro Investment Corporation are the mandated Joint Issue Managers, and together with PNB Capital and Investment Corporation and RCBC Capital Corporation are the Joint Lead Underwriters and Bookrunners for this issuance.
 
ROCK is a real estate company engaged in the development of residential and commercial projects that caters to the high-end and upper-mid markets. The Company has broadened its portfolio, expanding beyond its initial focus of high-rise condominium projects to offering mid-rise towers and horizontal projects. ROCK also launched its first provincial development in 2013, and has strategically shifted its focus to horizontal development projects outside Metro Manila, particularly in growing provincial areas, such as Pampanga, Laguna, Batangas, Cebu, and Bacolod. Additionally, ROCK ventured into the hospitality market with the launch of the Aruga Serviced Apartments. 

With 30 years of developing real estate projects in the Philippines, ROCK has built a strong and reputable brand. Its growth over the past years was supported by product diversification, the strong take-up of its projects, and its ability to develop projects across numerous locations in Metro Manila and in growing provincial areas. From December 2024, ROCK launched three premium residential projects in provincial areas, banking on relatively more resilient demand for luxury projects and the residential sector outside the capital region. More residential units and leasable spaces are expected to be added to ROCK’s mixed use communities.

​In line with this strategy, ROCK recently acquired a majority stake in Alabang Commercial Corporation, the owner and operator of Alabang Town Center (ATC). ATC is a retail and office center in Alabang, Muntinlupa, which sits on a 17.5-hectare (ha) land area and reportedly has around 500 retail and office tenants. In addition to this, the Company is also preparing to start construction of its first full-service hotel in Cebu next year and launch its second Power Plant Mall in Pampanga in 2027. Future growth will be supported by ROCK’s land bank of over 500 ha. 

ROCK is led by a seasoned management team, many of whom have been with the Company for many years. Their leadership has steered Rockwell past global crises that disrupted global economies, such as the Asian Financial Crisis and the COVID-19 pandemic.