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Manila Bulletin devider Business devider The Stock Market devider VisMin developer locks in ₱4 billion for 30,000 affordable homes

VisMin developer locks in ₱4 billion for 30,000 affordable homes

Published Dec 5, 2025 02:27 pm
Visayas-Mindanao developer Cebu Landmasters Inc. (CLI) raised ₱4 billion in its latest bond sale, locking in funding to deliver thousands of new, affordable homes in the central and southern Philippines.
The new sustainability-linked bond (SLB) tranche was officially listed on Friday, Dec. 5, at the Philippine Dealing System Holding Corp. The bonds had a principal amount of ₱3 billion and an oversubscription option of up to ₱2 billion.
CLI Chairman and CEO Jose Soberano III said the issuance “strengthens our drive to be the country’s most trusted developer—where every project brings fulfillment to our customers and progress to the communities we serve.”
He added that it “reinforces our mission to deliver masterful real estate experiences that uplift lives and support nation-building, as we expand our ability to develop quality, affordable homes that move progress forward across the country.”
The offering completes the third and final tranche of CLI’s ₱15-billion shelf-registration program. The newly listed bonds comprise Series F, G, and H, maturing in 2029, 2032, and 2035, respectively.
The four-year Series F bonds raised ₱2.19 billion at an interest rate of 6.5408 percent. The seven-year Series G bonds generated ₱603 million at 6.6807 percent, while the 10-year Series H bonds amounted to ₱1.22 billion and carried an interest rate of 6.9572 percent.
CLI remains the first real estate developer in the Philippines to anchor a sustainability-linked bond to affordable housing delivery. Under this SLB financing framework, the company targets more than 16,000 additional affordable homes, bringing its total affordable housing output across Visayas-Mindanao (VisMin) and upcoming Luzon projects to over 30,000 units by the time the bonds mature.
Proceeds from the offering will support active project development in key VisMin growth markets, refinance maturing obligations, and fund general corporate requirements.
Investor confidence in CLI remains strong. PhilRatings reaffirmed a PRS Aa Plus rating with a Stable Outlook for the issuance, citing the company’s solid financial position, consistent earnings growth, and proven market leadership.
Soberano noted that “The strong investor support for both our bond issuances this year reflects the resilience of our business and confidence in our long-term vision.”

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Cebu Landmasters Inc. Philippine Dealing System Holdings Corporation
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