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Manila Bulletin devider Business devider The Stock Market devider A Brown raises ₱4 billion from oversubscribed maiden bond offering

A Brown raises ₱4 billion from oversubscribed maiden bond offering

Published Jul 6, 2026 12:00 am  |  Updated Jul 4, 2026 11:54 am

A Brown Co. Inc. has raised ₱4 billion from its maiden fixed-rate bond issuance, which will be deployed to support the growth of its real estate and renewable energy (RE) businesses.

Now listed on Philippine Dealing & Exchange Corp. (PDEx), the issuance consists of series A three-year fixed-rate bonds priced at 7.4428 percent per annum due 2029 and series B five-year fixed-rate bonds priced at 7.9583 percent per annum due 2031. It forms part of A Brown’s ₱12-billion shelf registration.

The issuance drew strong investor interest and was oversubscribed against its ₱3-billion base offer size, with demand coming from both institutional accounts and retail investors.

“This ₱4-billion issuance marks our first entry into the Philippine bond market and comes as A Brown celebrates 60 years of building communities across Mindanao and, now, Luzon,” A Brown President Paul Francis B. Juat said.

He added, “Proceeds will support both our real estate pipeline and our RE portfolio—the two pillars of A Brown’s next chapter. We thank PNB Capital and Investment Corp. (PNB Capital) and Land Bank of the Philippines (Landbank) for structuring this offer and believing in our story, and our investors for placing their trust in these bonds.”

The bonds carry an investment-grade issue credit rating of PRS A plus, with a stable outlook, from Philippine Rating Services Corp. (PhilRatings).

Obligations rated PRS A plus have favorable investment attributes and are considered upper-medium-grade obligations, with the obligor’s capacity to meet its financial commitments remaining strong.

This rating affirms A Brown’s financial soundness and its ability to execute its business strategy across real estate, agribusiness, and energy.

Net proceeds from the bond issuance will support A Brown’s RE investments and real estate development pipeline, the redemption of Series A preferred shares, and general corporate purposes.

PNB Capital acted as sole issue manager for the transaction. PNB Capital and Landbank jointly led the offering as joint lead underwriters and joint bookrunners.

A Brown is known for its residential and mixed-use developments largely concentrated in Mindanao, particularly in Cagayan de Oro City, Bukidnon province, and Butuan City, as well as in Tanay town, Rizal province, in Luzon.

It also maintains a growing presence in the energy sector through its wholly owned subsidiary ABC Energy Inc., with power assets and RE projects at various stages of development.

The company also has interests in palm oil processing through Surigao Greens Agricultural Corp. and electron-beam commercial sterilization services through Irradiation Solutions Inc. — James A. Loyola

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A Brown Company Inc. Paul Francis B. Juat
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