A Brown readies P12-B bond issue

Property and power firm A Brown Company Inc. has secured board approval for a shelf registration of up to P12 billion in fixed-rate bonds, marking a fresh push to tap the capital markets.

In a disclosure on Tuesday, the company said the planned issuance will involve a first tranche of up to P5 billion, consisting of a base offer of P3 billion with an oversubscription option of up to P2 billion.

The bonds will be direct, unconditional, unsubordinated and unsecured obligations, to be offered and distributed in the Philippines.

Proceeds will be raised under a shelf registration program, with the bonds to be registered with the Securities and Exchange Commission and listed on the Philippine Dealing and Exchange Corp. (PDEx).

The issuance will consist of two series: Series A bonds with a tenor of three years and Series B bonds with a five-year tenor.

Issue managers

The company has tapped PNB Capital and Investment Corp. and Land Bank of the Philippines as issue managers for the transaction.

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A Brown said it has authorized management to prepare and file the necessary registration statement, prospectus, and listing applications with regulators and the exchange.

Separately, the board set the company’s annual stockholders’ meeting on June 25, 2026 at 1 p.m., to be conducted virtually.

The record date for determining eligible shareholders entitled to notice and voting has been set on May 21, 2026.