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Manila Bulletin devider Business devider The Stock Market devider A Brown Co. seeks ₱5 billion in first bond sale for expansion

A Brown Co. seeks ₱5 billion in first bond sale for expansion

Published May 4, 2026 11:06 am
A Brown Co. Inc. is seeking to raise as much as ₱5 billion through its first-ever bond issuance to accelerate a pivot into renewable energy and broaden its real estate portfolio.
A Brown, a developer known for its extensive footprint in Mindanao, filed a registration statement with the Securities and Exchange Commission (SEC) for a ₱12 billion shelf program.
The initial tranche consists of ₱3 billion in fixed-rate bonds, with an oversubscription option of up to ₱2.0 billion.
Proceeds from the maiden sale are earmarked for renewable energy investments and the development of a pipeline of residential projects, as well as general corporate purposes.
Philippine Rating Services Corp. assigned the offering an investment-grade rating of PRS A plus with a stable outlook. PhilRatings defined the grade as having favorable investment attributes, though it noted such obligations are more susceptible to economic shifts than higher-rated debt.
The rating agency also cited A Brown’s “strong real estate presence” and “conservative capital structure” as key factors in its assessment.
A Brown’s expansion comes amid the company’s sustained recovery in top-line figures, driven by residential sales in its home markets of Cagayan de Oro, Bukidnon, and Butuan. While its bottom line has seen fluctuations, the company has maintained ample liquidity to support its diversification. 

A Brown’s real estate portfolio currently includes 19 ongoing residential and mixed-use projects and a pipeline of 10 additional developments covering roughly 172 hectares.
The company is also making deeper inroads into the Luzon market, specifically in Rizal province, through its Adelaida brand and leisure-focused developments. Beyond bricks and mortar, the group operates a palm oil milling plant in Surigao del Sur via its subsidiary, Surigao Greens Agri Corp.
A critical pillar of the company’s future growth is ABC Energy Inc., which serves as the holding firm for its power assets.
A Brown is currently co-developing wind farms in Tanay and Alabat Island in partnership with Alternergy Holdings Corp., a listed renewable energy pioneer.

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A. Brown Company Inc. Philippine Rating Services Corporation
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