Filinvest Land Inc. (FLI) has successfully raised P10 billion from the sale of a 4-year and 6-year fixed-rate peso bonds it plans to use for capital expenditure.
The Gotianun-led realtor said the bonds were more than four times oversubscribed over the base amount of P8 billion.
The bonds were listed in the Philippine Dealing & Exchange Corp. yesterday.
The bonds were assigned a PRS Aaa rating by the Philippine Rating Services Corp. “FLI is growing its recurring income portfolio particularly in the logistics/industrial and office space. In addition, we continue to provide the housing requirements of our fellow countrymen as we help build the Filipino dream. FLI is encouraged by the performance of the residential sector in the first nine months of the year with residential revenues increasing by 23 percent, we are hopeful that we are on the way to economic recovery” said Josephine Gotianun- Yap, FLI president.
This bond issuance is the second tranche out of the company’s P30 shelf-registered bonds approved in 2020.
The company mandated BDO Capital & Investment Cor., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. served as joint lead underwriters and bookrunners of the bond sale.
