PROPERTY developer Arthaland Corp. plans to issue P3 billion worth of fixed-rate ASEAN green bonds possibly late this year to raise funds for eligible “green” projects. READ:
In a disclosure to the Philippine Stock Exchange on Wednesday, the company said it had filed the preliminary prospectus for the bond issuance with the Securities and Exchange Commission .
The green bonds will be offered through two tranches: a portion will have a five-year maturity while the rest will have a seven-year tenor. Proceeds will also be used for the required investment in companies that will develop the property for a third residential project at the Makati CBD, plus Project JL and Project Midtown.
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