Rockwell Land raises P4 billion from 7-year fixed rate notes

MANILA, Philippines - Rockwell Land Corp., the property development unit of the Lopez Group, has raised P4 billion from the issuance of seven-year fixed-rate corporate notes.

The upscale real estate developer plans to use proceeds from the issue to beef up its landbank and refinance certain obligations.

The notes issue was jointly arranged by First Metro Investment Corp. and PNB Capital and Investment Corp.

 “We would like to thank the Metrobank Group and PNB for the success of this notes issuance. I believe this fundrai-sing activity is a testament of their support and confidence in Rockwell Land’s continuing ability to establish and deliver first-class real estate developments,” said Nestor Padilla, president of Rockwell Land.  

Established in 1995, Rockwell Land has established a reputation for building high-end residential and commercial projects. Its flagship project, Rockwell Center, is widely regarded as one of the country’s most successful high-end urban community developments. 

Among Rockwell Land’s completed portfolio of high-profile projects within Rockwell Center include The Power Plant Mall, Rizal Tower, Luna Gardens, Amorsolo Square, Hidalgo Place, Joya Lofts and Towers, Manansala Tower, and One Rockwell.

In addition, the company developed the Rockwell Business Center, a premium office development located within the Meralco compound in Pasig. A joint venture with Meralco, this is Rockwell Land’s first foray into the fast-growing commercial office space market.  

 Among Rockwell Land’s ongoing developments include The Grove, which is situated on a 5.4-hectare site along E. Rodriguez Avenue (C-5) in Pasig City, as well as the Edades Tower and Garden Villas, a 50-story, high-end residential condominium development which will rise on the north side of the Rockwell Center.

Rockwell Land is owned 51 percent by power retailing giant Manila Electric Co. and 49 percent by First Philippine Holdings Corp.