Cebu Landmasters, Inc. (CLI) has raised ₱4.0 billion from its latest sustainability-linked bond (SLB) issuance — its second oversubscribed fundraise for 2025 — cementing the real estate developer’s growing appeal among investors seeking stable, ESG-driven assets in a recovering capital market.
The fresh issuance completes the final tranche of CLI’s ₱15-billion shelf-registration program and introduces Series F, G, and H bonds maturing in 2029, 2032 and 2035, respectively. The listing was formalized at the Philippine Dealing System on December 5.
Investor appetite strengthens as SLB demand widens
The offering generated robust take-up across all tenors:
- ₱2.19B raised from the 4-year Series F at 6.5408%
- ₱603M from the 7-year Series G at 6.6807%
- ₱1.22B from the 10-year Series H at 6.9572%
Analysts say the oversubscription reflects a broader shift among Philippine investors toward ESG-aligned and sustainability-linked instruments, a trend accelerated by fintech platforms that have made bond distribution more accessible to retail and institutional buyers.
Real estate-backed debt, in particular, has become increasingly attractive amid expectations of stable long-term yields and diversified risk exposure.
A unique SLB structure tied to real-world housing delivery
CLI remains the first Philippine developer to link its SLB performance targets to actual affordable housing output. Under the framework, the company commits to delivering over 16,000 incremental affordable homes, growing its total contribution to more than 30,000 units across Visayas, Mindanao, and upcoming Luzon expansions by bond maturity.
For fintech and investment platforms listing these instruments, such real-economy KPIs enhance transparency and help investors track whether SLB commitments translate to measurable social impact— further boosting the instrument’s credibility.
CLI: Proceeds to accelerate development pipeline across VisMin
Aerial view of One Manresa Place
Funds raised will finance active project developments in key VisMin cities, refinance maturing obligations, and support general corporate requirements. CLI — currently ranked #1 in VisMin residential take-up with an 18% market sharebased on the 2025 Colliers Real Estate Market Study — continues to expand aggressively in housing and township developments.
PhilRatings recently reaffirmed the company’s PRS Aa Plus rating with a Stable Outlook, citing its strong balance sheet, sustained earnings growth, and its solid leadership position in the region.
CLI: “Strong investor support validates long-term vision”
“Our commitment at Cebu Landmasters has always been to build communities where Filipino families can thrive,” said CLI Chairman and CEO Jose Soberano III. “The strong investor support for both our SLB issuances this year reflects the resilience of our business and trust in our long-term vision.”
Soberano added that the capital raise strengthens CLI’s ability to deliver quality and affordable homes while supporting broader nation-building and sustainability initiatives.
