Megawide Construction Corporation is planning to raise up to P5 billion from a bond offering that was approved by its board of directors last April 12.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said its board has authorized the offering of peso-denominated fixed rate bonds consisting of the base offer of up to P4 billion and an oversubscription option of up to P1 billion.
The bonds will be issued in up to three series, at the discretion of the company: 3-year Series C Bonds due 2027; 5-year Series D Bonds due 2029; and 7-year Series E Bonds due 2031.
To be issued under such terms and conditions as may be approved by the board, the bonds will be subject to the registration requirements of the Securities and Exchange Commission (SEC) and the listing requirements of the Philippine Dealing and Exchange Corp. (PDEx).
The Megawide board of directors has appointed PNB Capital and Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation as the joint issue managers, joint lead underwriters and bookrunners of the offer.
“The Board further resolved to approve, confirm, and ratify any of the disclosures contained in the Registration Statement and Prospectus to be filed by the Company with the SEC and the listing application with the PDEx in connection with the Offer,” said Megawide.