Manila's Robinsons Land plans $105 mln bond issue

MANILA May 18 (Reuters) - Philippine property developer Robinsons Land Corp (RLC.PS) said on Monday that it planned to raise up to 5 billion pesos ($105.2 million) from the issue of fixed-rate bonds to fund capital spending.

The unit of conglomerate JG Summit Holdings Inc (JGS.PS) said it will sell 3 billion pesos of bonds with an oversubscription option for an additional 2 billion pesos.

It did not say when the issue would be launched.

The issue will be in two tranches -- one tranche with a maturity of five years and one day and another with a term of seven years, the firm told the stock exchange.

Hongkong and Shanghai Banking Corp and SB Capital Investment Corp are the joint issue managers.

Low interest rates and good liquidity are encouraging Philippine companies to tap the domestic bond market. ($1 = 47.53 pesos) (Reporting by Manolo Serapio Jr.)