CLI to issue P2 billion corporate notes

CEBU Landmasters Inc. (CLI), ALFM Peso Bond Fund Inc. and ALFM Money Market Fund Inc. have entered into a notes facility agreement where CLI will issue an 18-month corporate note worth P2 billion at an initial fixed rate of 4.75 percent to the ALFM mutual funds. The facility was arranged by BPI Capital Corp.

In a disclosure to the stock exchange Monday, Oct. 28, 2019, the Cebu-based firm said proceeds of the notes will be used for capital expenditures and general corporate purposes. CLI has several strategic land acquisitions lined up in greater Cebu, Bacolod and Davao, with new expansion areas such as Iloilo, Butuan and General Santos City also on the horizon.

ALFM Peso Bond Fund is one of the largest mutual funds in the Philippines. It is a well diversified fixed-income investment fund which has consistently provided superior risk-adjusted returns over the medium to long term. The ALFM Money Market Fund is designed for investors who are looking for investment outlets for short term placements.(CSL)


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