VisMin’s leading developer Cebu Landmasters, Inc. (CLI) reported it raised PHP4 billion from its oversubscribed sustainability-linked bond (SLB) offering, proceeds of which will be used to support active project developments, refinance maturing obligations, and fund general corporate requirements.
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 December 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.”
“It also reinforces our mission to deliver masterful real estate experiences that uplift lives and support nation-building, as we expand our ability to develop quality, affordable homes that move progress forward across the country,” Soberano added.
The offering completes the third and final tranche of CLI’s PHP15-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 PHP2.19 billion at an interest rate of 6.5408 percent. The 7-year Series G bonds generated PHP603 million at 6.6807 percent, while the 10-year Series H bonds amounted to PHP1.22 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.
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.
“The strong investor support for both our bond issuances this year reflects the resilience of our business and confidence in our long-term vision,” said Soberano. “It strengthens our commitment to be the country’s most trusted developer, delivering real value to customers and lasting impact to communities.”
