Cebu Landmasters secures spot in ATRAM SDG Fund
Cebu Landmasters secures spot in ATRAM SDG Fund – BusinessWorld Online
LISTED property developer Cebu Landmasters, Inc. (CLI) has secured a spot in the P300-million ATR Asset Management Philippine Sustainable Development Growth Fund (ATRAM SDG Fund), which recognizes companies for their sustainability initiatives.
The ATRAM-managed fund consists of the top 20 listed companies demonstrating strong environmental, social, and governance (ESG) performance while maintaining financial growth, CLI said in an e-mailed statement on Wednesday.
The ATRAM SDG Fund is the third best-performing equity fund in the Philippines, with a year-to-date return of 18% as of December 2024.
“Our inclusion in the ATRAM SDG Fund strengthens our resolve to scale up our sustainability efforts. This recognition comes at a pivotal time as we prepare for the upcoming listing of our P5-billion sustainability-linked bond — another testament to our unwavering commitment to sustainability,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said.
“The increasing interest from investors in companies that embody sustainability further motivates us to embed these tenets into every aspect of our business,” he added.
On Monday, CLI began the offer period for its P5-billion sustainability-linked bond issuance, which will run until March 14. The bonds are set to be listed on the Philippine Dealing & Exchange Corp. by March 21.
The issuance consists of a base offer of up to P3 billion, with an oversubscription option of up to P2 billion. It includes Series D three-year bonds at 6.6348% per annum and Series E five-year bonds at 6.9157% per annum.
This marks the second tranche of CLI’s P15-billion shelf-registered debt securities program. The first tranche was listed in October 2022.
“This capital raise provides investors an opportunity to support CLI in its mission to contribute to nation-building and the UN Sustainable Development Goals while driving long-term growth in the VisMin real estate sector,” CLI said.
On Wednesday, CLI shares closed unchanged at P2.65 apiece. — Revin Mikhael D. Ochave
