SEC approves ABCI P5-B bond offer

The Securities and Exchange Commission (SEC) has approved the public offering of up to ₱5 billion in fixed-rate bonds by listed real estate developer A Brown Company, Inc. (ABCI), paving the way for the firm’s fundraising activity under its shelf registration program.

In a statement last week, the SEC said its Commission En Banc, in a meeting held Tuesday, “resolved to render effective the registration statement of A Brown Company covering the shelf registration of up to P12 billion in fixed-rate bonds, subject to the company’s compliance with certain remaining requirements.”

Under the plan, ABCI will initially offer up to ₱3 billion in bonds, with an oversubscription option of up to ₱2 billion.

The offer period is scheduled from June 22 to 26, 2026, while listing on the Philippine Dealing & Exchange Corporation (PDEx) is set for July 3.

PNB Capital and Investment Corporation has been appointed as sole issue manager and will act as joint lead underwriter and bookrunner alongside the state-owned Land Bank of the Philippines.

The bonds will be issued in two tranches: a three-year Series A bond due in 2029 and a five-year Series B bond due in 2031.

The SEC said ABCI expects to raise net proceeds of about ₱4.92 billion, assuming full exercise of the oversubscription option.

Funds from the offering will be used to finance renewable energy investments, residential development projects, redemption of shares, and other general corporate requirements.

The approval forms part of continued capital market activity as listed firms tap bond issuances to support expansion and diversification strategies.