FILINVEST Land Inc. (FLI) said it plans to raise P12 billion through a bond sale.
FLI said the bonds will be divided into an initial P9 billion firm offer and another P3 billion covering the greenshoe option, that will be offered in tenors of five years due 2030, seven years due 2032 and 10 years due 2035, the company told regulators.
The Gotianun-controlled realtor said it has tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, RCBC Capital Corp., and Security Bank Capital Investment Corp. to manage the bond sale.
Filinvest Land said the bonds was rated PRS Aaa by credit rating agency Philippine Rating Services Corp. (PhilRatings),with a “stable” outlook.
“Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong,” FLI said.
The stable outlook meanwhile means that PhilRatings is likely to keep the rating unchanged in the next 12 months.
