Sta. Lucia to offer up to P3B debt notes
Sta. Lucia Land Inc. plans to raise up to P3 billion from the issuance of seven-year corporate notes.
In a stock exchange filing, SLI said it was authorized by its board to negotiate for a corporate notes facility with financial institutions, with a maximum of 19 investors.
Proceeds from the issue will be used to prepay existing obligations, fund projects and general corporate purposes.
The company will enter into partnerships to develop properties in Baguio City, Bulacan, Quezon City, Cavite, Rizal, Batangas, Palawan and Negros Occidental.
To ensure continued growth, Sta. Lucia is also set to acquire several parcels of land in Dagupan, Cavite, Laguna, Batangas, Rizal, Iloilo, Davao and General Santos City.