Megawide raises P1.1B from peso fixed-rate notes
Megawide Construction Corp. has raised P1.1 billion through the issuance of peso-denominated fixed-rate corporate notes.
In a disclosure on Friday, the company led by tycoon Edgar Saavedra said the issuance formed part of a larger fundraising program that its board of directors approved in December 2025.
Under the program, Megawide is authorized to issue up to P1.5 billion worth of peso-denominated fixed-rate notes.
The corporate notes were issued on Jan. 23, 2026. They carry a fixed interest rate of 7 percent per year. They have a tenor of three years and will mature in 2029.
Megawide said the notes were offered, sold and issued in the Philippines to qualified buyers, as defined under existing Philippine laws and regulations.
The securities have also been enrolled with the Philippine Dealing & Exchange Corp.
Megawide noted that the notes are exempt from registration with the Securities and Exchange Commission. This is consistent with applicable rules covering securities offered exclusively to qualified investors.
Proceeds from the issuance will be used to refinance existing obligations of the company and for general corporate purposes. No further breakdown of the allocation was provided.
The latest disclosure amended an earlier filing to reflect the actual issuance of the peso-denominated fixed-rate corporate notes. This followed the board’s earlier approval of the fundraising plan.
Megawide is a Philippines-based construction and engineering firm involved in infrastructure development, including transport-oriented projects and public-private partnerships.
The company did not provide details on whether additional tranches will be issued.
