Filnvest Land Inc. looks to raise P35 billion through a bond sale in the next three years.
The realtor is initially looking to sell P12 billion of the amount in November after the whole fund raising plan was cleared by the Securities and Exchange Commission.
For the first tranche, Filinvest Land will offer to the public an initial P10 billion, with an oversubscription option of up to P2 billion. The bonds are due 2027.
The proceeds will be used to partially finance the full redemption of the company’s bonds and to partially fund capital expenditures.
The bonds will be issued from November 16 to 22, in time for listing at the Philippine Dealing and Exchange Corp. on December 1, the SEC said.
Filinvest Land tapped BDO Capital & Investment Corp., China Bank Capital Corp., EastWest Capi tal Corp., First Metro Investment Capital, PNB Capital and Investment Corp/, RCBC Capital Corp/, and SB Capital Investment Corp. as joint lead underwriters and bookrunners for the offer.