Cebu Landmasters Raises P5B via Sustainability Bonds to Expand Affordable Housing Projects

VisMin-based developer Cebu Landmasters Inc. (CLI) has successfully raised P5 billion through sustainability-linked bonds (SLBs), listing the offering on the Philippine Dealing & Exchange Corp. (PDEx) as part of its plan to address the country’s housing shortage.

This issuance marks the second tranche of CLI’s P15-billion shelf-registration program. The funds will help the company boost its affordable housing portfolio and contribute to easing the 6.7 million housing backlog nationwide.

Sustainability-linked bonds are tied to environmental, social, and governance (ESG) targets. If the issuer fails to meet its sustainability goals, the bond’s interest rate increases.

CLI’s Series D bonds (P2.86 billion, due 2028) carry an interest rate of 6.6348%, while Series E bonds (P2.14 billion, due 2030) bear 6.9157%. Both received strong investor demand.

“Our goal has always been to build communities where Filipino families can thrive,” said CLI chairman and CEO Jose Soberano III. “We’re committing to deliver 16,000 more affordable homes by 2028—doubling what we’ve done over the last 20 years.”

CLI has already built over 14,000 affordable housing units and is targeting a total of 30,000 homes by the bond maturity.