The Notes, which will be issued at the price of 98.95% of face value, will pay interest semi-annually at the rate of 6.5% and will carry a yield to maturity of 6.75%.
With the issue of the Notes which represents a premiere international offering from a Philippine mining company, CCC is able to capitalise on the strong liquidity onshore and offshore and on the prevailing low interest rate environment to extend its debt maturity profile and to finance its expansion plans.
Commenting on the outcome of the financing exercise, Mr. Adrian Ramos, Vice-President of CCC, said: "CCC is very pleased with the results of its fund raising efforts. The success of the maiden issue of its debt securities confirms the acceptance by both the local and international investment communities of CCC as an emerging capital markets issuer.”
As previously reported, BDO Capital & Investment Corporation and Credit Suisse Securities (Europe) Limited have been engaged as Joint Lead Managers and Joint Bookrunners for the unrated Regulation S offering of the Notes.
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