Board OKs Issuance of Series IV Bonds

The CBMPC Board of Directors has recently approved the issuance of CBMPC Bonds IV-A and IV-B, S 2024 to fund its various projects and lending activities, and to provide medium-term investment opportunities for its members.

The CBMPC Bonds have the following features:

Tenor: Three (3) years for S IV-A ;
Five (5) years for S IV-B

Required Minimum Investment: For S IV-A: P100,000.00 in increments of P10,000.00
For S IV-B: P100,000.00 in increments of P10,000.00

Interest Rate (Tax-Exempt): For S IV-A: 5% per annum
For S IV-B: 5.25% per annum

Interest Payment Date: Interest shall be paid quarterly commencing from issue date

Issue Price: Face value of the Bond

Issue Size: P5.0M for both variants

Issue Date: April 30, 2024

Offer Period: March 25 until fully subscribed but not beyond April 30, 2024

Payment Date: Upon subscription until April 30, 2024

Maturity Date: For S IV-A: April 30, 2027
For S IV-B: April 30, 2029

PDIC Coverage: None. CBMPC assigns its Las Pinas City property and investment in LSERV Corporation as security to the Bonds issued.

Manner of Distribution: Direct subscription with CBMPC by its members (regular and associate)

Form: Certificated with CBMPC also acting as the Registry

Listing: The Bonds are not intended to be listed at the Philippine Dealing & Exchange Corp. (PDEx)

CBMPC’s rental collections from its six-unit apartment located in Doña Leoncia Subdivision, Las Pinas City as well as from the collections of loans and/or maturity of investments in LSERV Corporation are the sources of payment for these Bonds.

CBMPC reserves the right to pre-terminate the bonds in the event the Las Piñas property is sold prior to the maturity dates of the bonds. There shall be no pre-termination penalty on the part of CBMPC and it shall pay the interest stipulated at 5% for Series IV-A and 5.25% for Series IV-B up to date of pre-termination by CBMPC. However, the investors do not have the right of pre-termination.

The Bonds shall be held until maturity but may be allowed to be transferred to another member holder as negotiated by the holder (secondary sale shall be at the holders’ initiative).

The bonds are eligible as collateral to any CBMPC loan. The holder can also borrow against the bonds up to a maximum of 90% of the face value.

Interested members can get in touch with GM Lydia de Asis at telephone numbers 8354-5926; 0932-202-8150 or Eden Daus at 8522-053.