8990 Holdings, Inc. Announces Issuance of Peso-Denominated Fixed Rate Notes Up to PHP 5,000,000,000
August 25, 2020 at 07:36 pm EDT
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8990 Holdings, Inc. at its meeting of the Board of Directors held on 25 August 2020, the Board authorized the offer and issuance of peso-denominated fixed rate notes of up to PHP 5,000,000,000.00 with an oversubscription option of up to PHP 4,000,000,000.00, which shall be offered and sold only to qualified institutional buyers pursuant to Section 10.1(l) of the Securities and Regulations Code. Accordingly, the Notes shall be exempt from registration with the Securities and Exchange Commission. The Notes shall be enrolled and traded through the Philippine Dealing & Exchange Corporation. The Company has appointed BDO Capital & Investment Corporation as the sole issue manager, lead arranger, and sole bookrunner, and RCBC Capital Corporation as co-arranger, in respect of the offer and issuance of the Notes.
8990 Holdings, Inc. is a Philippines-based holding company and a mass housing developer. The Company's business segment includes the construction of low-cost mass housing; construction of medium-rise condominium units; construction of high-rise condominium units, and hotel operations. Under the brand name DECA Homes, its residential subdivisions are located in Cebu, Iloilo, Davao, Pampanga and Cavite. It constructs over three types of housing unit, including single-story detached, single-story attached and townhouse. The floor areas range from 35 square meters (sq. m.) to 120 sq. m. Its facilities include concrete roads and an underground drainage system. It also develops low-cost residential complexes of medium-rise buildings (MRBs) under the Urban DECA Homes brand. The floor area for an MRB unit ranges from 25 sq. m. to 36 sq. m. The Company has also ventured into high-rise condominium projects under the brand name, DECA Towers in the urban areas of Metro Manila.
8990 HOLDINGS, INC. 
