Haus Talk readies P2-B bond issuance
Housing developer Haus Talk Inc. (HTI) plans to raise up to P2 billion from the debt market as it seeks to sustain its expansion activities.
The Madlambayan family-led firm disclosed on Wednesday that its bond offer would consist of a P1-billion base amount. There is an oversubscription option of up to P1 billion in case of high demand.
HTI has yet to disclose the interest rate, offer price, tenors and other details of the issuance, including the exact timeline.
Security Bank Capital and Investment Corp. will be the issue manager, lead underwriter and bookrunner for the offer.
In the first semester, HTI said in its financial statement its general and administrative expenses had surged by 44.07 percent to P181.09 million. This, amid efforts to “sustain the company’s ongoing expansion.”
The firm also reported greater manpower needs and increased project-related activities.
Financing costs during the period likewise soared by 66.2 percent because of higher loans and borrowings, HTI said.
Still, the company was able to lock in gains because of more sales from its The Granary project in Laguna.
HTI’s bottom line in the January to June period ended at P366.81 million. It surged by 51.17 percent versus the same period last year.
In April 2024, HTI launched The Hammond and The Ellery Homes in Antipolo City, Rizal. The two projects span at least 1.6 hectares (ha) combined.
HTI likewise announced plans to buy land in Rizal province from flour manufacturer Liberty Flour Mills Inc. (LFMI) for P1 billion. This is meant to widen its real estate development portfolio.
The 37-ha agricultural property of LFMI is located within the towns of Angono and Teresa.
