Pueblo de Oro inks first tranche of notes issue

MANILA, Philippines - Pueblo de Oro Development Corp. (PODC) recently executed a P200-million Tranche of its P500 million corporate note issue (Issue) with the Philippine Veterans Bank (PVB). The proceeds of the Issue will be used to finance PODC’s development projects in various locations, including Cagayan de Oro, Cebu and Central Luzon.

The signing ceremonies for the Issue were held at Hotel Koresco in the Pueblo de Oro Township in Cagayan de Oro City (CdeO). PODC was represented by its chairman and chief executive officer, Guillermo Luchangco, while PVB was represented by its president Ricardo Balbido, Jr. and its executive vice president Severo Leagogo.

Also present during the contract signing ceremonies were Rommel Leuterio, president of the Investment & Capital Corporation of the Philippines (ICCP) and Ma. Lourdes Cristobal, president of Multinational Investment Bancorporation (MIB), as well as Ma. Milagros Campomanes-Yuhico, vice president and trust officer of PVB. ICCP and MIB are joint issue managers of the issue, while PVB-Trust Department is the facility and paying agent therefor.

PODC is the owner and developer of the 370-hectare Pueblo de Oro Township in CdeO, which features, inter alia, a world-class championship golf course designed by Robert Trent Jones II, various income levels of housing, the SM Mall, Xavier University and the St. Francis Xavier Parish Church of the Archdiocese of CdeO.