Century Properties Group, Inc. (“CPGI”) successfully completed a consent solicitation exercise to amend the trust indenture agreements and suretyship agreements governing two tranches of its outstanding fixed rate bonds: the Fixed Rate Bonds due 2027 and the Fixed Rate Bonds due 2028 and 2030. A consent solicitation is a process by which a bond issuer seeks approval from its existing bondholders to amend the terms of the agreements governing the bonds, to make way for CPGI’s corporate restructuring efforts.
The required consents were obtained from the holders of the requisite majority of the outstanding bonds, as certified by the trustee and validated by the Philippine Depository & Trust Corp. (“PDTC”).Following the successful solicitation, the supplemental agreements were executed on 11 June 2026.
ACCRALAW acted as legal counsel to the transaction, with the exercise being led by Partners Everlene O. Lee and Dan S. Sabilala. They were assisted by associate Marco Polo M. Pantaleon.