CENTURY Properties Group Inc. has raised P3 billion from a five-year fixed-rate corporate note issuance, which will be used to fund land acquisitions and residential developments.

The peso-denominated corporate notes, which were issued to qualified institutional investors, have been enrolled with Philippine Dealing & Exchange Corp. (PDEx) following the successful offering.

Century Properties said the proceeds would be used for strategic land banking in Calabarzon, Central Luzon, Panay and Davao as well as the construction of presold units under its first-home residential business.

The company said the issuance formed part of a long-term capital management strategy to diversify funding sources and strengthen financial flexibility.

“This issuance reinforces our long-term funding platform and reflects our disciplined approach to capital management,” President and CEO Marco Antonio said.

“By raising capital ahead of need, we are enhancing financial flexibility while remaining well-positioned to pursue future opportunities,” he added.

“We continue to see strong long-term fundamentals in the Philippine housing market, supported by the country’s structural housing backlog and sustained end-user demand.”

Chief Financial Officer and Head of Investor Relations Rodel Marqueses said the fresh capital raised aligned the company’s long-term funding with its corporate requirements while supporting prudent balance sheet management.

“Our priority is to maintain a funding profile that gives us flexibility without compromising financial discipline,” he said.

“This issuance strengthens our capital base, broadens our sources of long-term funding, and positions us to execute our growth plans while remaining disciplined in managing our leverage and other key financial metrics.”

China Bank Capital Corp. served as the sole arranger and bookrunner for the transaction.

Century Properties shares on Tuesday dropped P0.01, or 1.47 percent, to close at P0.67 each.