Century Properties Gains Regulatory Approval for ₱5-Billion Retail Bond Issue Amid Robust Investor Appetite
Century Properties Group, Inc. (CPGI) has received regulatory approval from the Securities and Exchange Commission (SEC) for the issuance of its Philippine peso-denominated fixed-rate retail bonds, marking another milestone in the company’s capital markets strategy. The approval covers the initial tranche of CPGI’s ₱12.0-billion debt securities shelf registration program, authorized under SEC MSRD Order No. 009, series of 2026, dated February 5, 2026.
The offering comprises ₱3.0 billion in base issuance, with an oversubscription option of up to ₱2.0 billion, reflecting strong market demand. The bonds will be issued in two tenors: four-year Series D bonds due in 2030 with a fixed interest rate of 6.5080% per annum, and seven-year Series E bonds due in 2033 carrying a fixed rate of 7.6280% per annum. This marks CPGI’s sixth bond issuance, underscoring its continued access to the domestic capital markets.
Proceeds from the bond offer will be used to finance capital expenditures for key developments across CPGI’s portfolio. These include Mykonos, a Century Premium residential project in San Fernando, Pampanga, as well as six PHirst-branded projects located in Magalang (Pampanga), Baliwag and Pandi (Bulacan), Padre Garcia (Batangas), Calauan (Laguna), and Tagum (Davao del Norte). In addition, the company plans to launch seven new projects in 2026—two under the Century Premium segment and five under PHirst—bringing the combined estimated sales value of its near-term pipeline to approximately ₱53.5 billion.
CPGI President and CEO Marco Antonio said the strong reception to the bond offering highlights investor confidence in the company’s long-term strategy and execution capabilities. He emphasized that the company remains focused on delivering what it calls “New Generation Real Estate,” while maintaining disciplined growth and financial prudence. The transaction also supports CPGI’s broader objective of optimizing its capital structure by extending debt maturities and strengthening liquidity.
The issuance builds on CPGI’s improving financial performance and balance sheet position. As of September 30, 2025, the company reported a 17% year-on-year increase in net income, supported by steady project take-up and effective cost management. Over the past three years, CPGI has posted a 23% compounded annual growth rate in net income, while significantly reducing leverage, with its debt-to-EBITDA ratio improving from 9.1x in 2021 to 3.3x as of the first nine months of 2025.
Credit Rating Investors Services Philippines Inc. (CRISP) assigned the bonds an AA+ rating with a Positive Outlook, citing CPGI’s diversified portfolio, strong position in the vertical housing segment, resilient financial profile, and prudent debt management. Executives from China Bank Capital Corporation and PNB Capital and Investment Corporation noted that the oversubscription reflects sustained investor confidence in CPGI’s business model and growth trajectory.
The public offer period will run from February 6 to February 12, 2026, with listing targeted on February 20, 2026. China Bank Capital Corporation served as Sole Issue Manager, while China Bank Capital and PNB Capital and Investment Corporation acted as Joint Lead Underwriters and Bookrunners. Land Bank of the Philippines participated as a Selling Agent.
