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Manila Bulletin devider Business devider The Stock Market devider Rockwell raises ₱10 billion from bond issue to fund project pipeline

Rockwell raises ₱10 billion from bond issue to fund project pipeline

Published Mar 18, 2026 11:24 am

Rockwell Land Corp., the Lopez Group’s upscale property developer, has successfully raised ₱10 billion from the first tranche of its ₱20-billion bonds under the shelf-registered program of the Securities and Exchange Commission (SEC).

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, March 18, the firm said that it has offered and issued three-year bonds due 2029 with an interest rate of 5.5666 percent per annum, and five-year bonds due 2031 at 5.8595 percent per annum.

Rockwell listed the bonds on Philippine Dealing & Exchange Corp. (PDEx) also on Wednesday.

Net proceeds from the bond issuance will be used by the company to partially fund capital expenditures (capex) for land development and the construction costs of Rockwell’s various existing projects, such as its horizontal residential developments, Power Plant Mall Angeles, Rockwell at IPI Center, Aruga Hotel in Mactan, and Rockwell Center Bacolod.

BDO Capital & Investment Corp. and First Metro Investment Corp. (FMIC) are joint issue managers and, together with PNB Capital and Investment Corp. and RCBC Capital Corp., are joint lead underwriters and bookrunners for this issuance. Metropolitan Bank & Trust Co.’s (Metrobank) Trust Banking Group shall serve as trustee.

Philippine Rating Services Corp. (PhilRatings) has assigned its highest issue credit rating of PRS Aaa, with a stable outlook, to Rockwell’s bond issuance.

Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong. A stable outlook means the rating is likely to be maintained over the next 12 months.

PhilRatings said the assigned rating and corresponding outlook take into account Rockwell’s established brand name, supported by the diversification of product offerings and geographical expansion.

Also considered were the company’s solid management team and support from its parent company, First Philippine Holdings Corp. (FPH); sustained growth in profitability; strong liquidity position; and conservative capital structure, even amid its recent expansion.

With 30 years of developing real estate projects in the Philippines, Rockwell has built a strong and reputable brand.

Its growth over the past years has been 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.

In line with this strategy, Rockwell recently acquired a majority stake in Alabang Commercial Center Corp. (ACCC), the owner and operator of Alabang Town Center (ATC), 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 and launch its second Power Plant Mall in Pampanga in 2027. Future growth will be supported by Rockwell’s land bank of over 500 ha.

Related Tags

Rockwell Land Corporation Philippine Dealing & Exchange Corporation Philippine Rating Services Corporation
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