CLI raises P4 billion from bond issuance

MANILA, Philippines — Leading developer in VisMin, Cebu Landmasters Inc. (CLI) raised P4 billion from its oversubscribed sustainability-linked bond (SLB) offering, further securing its growth pipeline and reaffirming the market’s continued confidence in its long-term plans.

This is CLI’s second successful bond offering for 2025, building on the momentum of its strong investor reception of its oversubscribed March SLB issuance. The new SLB tranche was officially listed in a ceremony at the Philippine Dealing System Holding Corp. on Dec. 5.

“Our commitment at Cebu Landmasters has always been to build communities where Filipino families can truly thrive,” said CLI chairman and CEO Jose Soberano III. “This sustainability-linked 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.”

The offering completes the third and final tranche of CLI’s P15-billion shelf-registration program, with newly listed Series F, G and H bonds maturing in 2029, 2032 and 2035, respectively.

The issuance was met with robust demand, with the 4-year Series F bonds raising P2.19 billion at an interest rate of 6.5408 percent. The 7-year Series G bonds generated P603 million at 6.6807 percent, while the 10-year Series H bonds amounted to P1.22 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 VisMin and upcoming Luzon projects to over 30,000 units by bond maturity.

Proceeds will support active project development in key VisMin growth markets, refinance maturing obligations and fund general corporate requirements.

PhilRatings reaffirmed a PRS Aa Plus rating with Stable Outlook for the issuance, citing the company’s solid financial position, consistent earnings growth and proven market leadership.