AboitizLand raises P1 billion from maiden notes issue

MANILA, Philippines – AboitizLand Inc., the real estate and property arm of the Aboitiz Group, successfully raised P1 billion in fresh capital via the issuance of privately placed corporate notes recently.

The company will use proceeds from the notes to fund its development projects in Cebu, namely, Ajoya, its first residential development in the Lapu-Lapu/Cordova area; Persimmon North Tower, the second of four 15-storey mid-rise towers that will eventually comprise The Persimmon, the company’s urban village development; and Pristina North Residences, an enclave of terraced townhomes.

In line with its diversification and expansion strategies, AboitizLand is seriously looking at expanding its market and geographical reach aside from cementing its position in Cebu.

“AboitizLand plans to further strengthen its foothold in the Cebu market and we have our sights set on Mega Manila for our future development projects,” said company president and CEO Andoni Aboitiz.

Participating noteholders included Security Bank Corp., Security Bank-trust division and China Banking Corp. SB Capital Investment Corp. was the mandated lead arranger for the transaction while Security Bank-trust division was the designated notes facility agent.