NEXTASIA Land raises ₱300M in debut capital market deal without pledging collateral

The Cavite-based affordable housing developer’s first unsecured corporate note issuance opens a new funding runway for expansion across Southern Luzon.

NEXTASIA Land, Inc. has closed a ₱300 million Unsecured Corporate Note Facility, marking the Cavite-based affordable housing developer’s first foray into the Philippine debt capital market.

Most corporate borrowing comes with a safety net for investors. Land, buildings, or other assets are pledged as collateral in case things go south. NEXTASIA offered none of that, and investors still came in. That kind of trust, extended to a company on its very first capital market outing, rarely happens by default.

BPI Capital served as Sole Arranger and Bookrunner for the transaction, with BPI Wealth acting as Facility Agent and Paying Agent. The money raised goes toward project development and land acquisitions across Southern Luzon, where the demand for affordable housing has long been running ahead of what developers can deliver.

NEXTASIA Chairman and CEO Crispin Y. Carreon noted that the company approached the issuance with discipline, with the goal of establishing a strategic presence in the debt capital market rather than maximizing the size of the raise. BPI Capital President Lester Ong echoed that sentiment, pointing to the company’s clear market positioning and growth prospects as factors that resonated well with investors.

Now that NEXTASIA has established a presence in the debt capital market, it can tap that avenue again as its project pipeline grows and investor appetite deepens. In a country where the housing backlog runs into the millions, having more developers with access to capital, and the credibility to attract it without collateral, is exactly the kind of momentum the market needs.