CITYLAND Development Corp. said on Friday the Securities and Exchange Commission (SEC) approved its registration of P1.1 billion worth of short-term commercial papers to be issued at face value and traded over the counter.

In a disclosure on Friday, Cityland said the SEC had issued the certificate of permit to offer securities for sale, as the commission, in a meeting on October 10, resolved to "favorably consider" the registration of the commercial papers.

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