Robinsons Land Corporation, one of the country’s leading property developers, is planning to raise up to P15 billion from a bond issuance representing the initial tranche of its P30 billion shelf-registered bonds.
RLC’s proposed bond issuance is worth P10 billion with an oversubscription option of up to P5 billion.
Philippine Rating Services Corporation (PhilRatings) has assigned its highest Issue Credit Rating of PRS Aaa, with a Stable Outlook, for the proposed bonds.
Obligations rated PRS Aaa are of the highest quality with minimal credit risk and the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. A Stable Outlook means the rating is likely to remain unchanged in the next twelve months.
PhilRatings said the assigned issue ratings take into account RLC’s solid competitive position, healthy liquidity, sound capitalization, and experienced management.
RLC is one of the Philippines’ leading property developers in terms of revenues, number of projects and total project size.
The company has a well-diversified property portfolio, with seven business segments as of end-March 2022: Robinsons Malls, the Residential Division which consists of its vertical residential brand (RLC Residences) and its horizontal residential brand (Robinsons Homes), Robinsons Offices, Robinsons Hotels and Resorts, Robinsons Logistics and Industrial Facilities, Integrated Developments Division and Chengdu Ban Bien Jie.
Robinsons Malls is a major player in the Philippines’ shopping mall space. As of end-March 2022, Robinsons Malls kept its position as the Philippines’ second-largest mall operator.
RLC Residences considers itself as among the top residential condominium developers in terms of sales revenues while Robinsons Homes has five sub-brands which allow clear differentiation among markets in terms of location, type of development and price ranges.
Robinsons Offices is one of the leading providers of office space in the Philippines. As of end-March 2022, Robinsons Offices had 28 office developments located in Quezon City, Mandaluyong City, Cebu City, Ilocos Norte, Tarlac City, Naga City, Davao City and Iloilo City.
Robinsons Logistics and Industrial Facilities appears on track in achieving its goal of becoming the fastest-growing logistics facility provider in the Philippines.
Robinsons Hotels and Resorts has a portfolio of 13 Go Hotels, seven Summit Hotels and Resorts, one Grand Summit Hotel, and three international deluxe brands.