FLI raises P8B in bond offer

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    Filinvest Land Inc. (FLI) said it has successfully raised P8.1 billion through the issuance of a three- and a 5.5-year peso fixed-rate bonds.

    The company said it will use the proceeds for capital expenditures.

    The bond issuance was given the highest PRS Aaa rating by the Philippine Rating Services Corp. (PhilRatings) and was listed with the Philippine Dealing & Exchange Corp. yesterday November 18.

    The bonds carry a coupon rate of 3.3353 percent for the 3-year tenor, while the 5.5-year tenor had a coupon rate of 4.1838 percent.

    FLI said the offer had an oversubscription of P1.35 billion over the base amount of P6.75 billion.

    “The funding tapped from the bond market will allow the company to implement its capital expenditure program,” FLI said.

    “With this bond issuance, FLI is now well-prepared for its planned expansion. FLI is targeting to further expand its recurring income portfolio particularly in the logistics/industrial and office space,” added Josephine Gotianun-Yap, FLI president.

    BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Bank, and SB Capital Investment Corp., served as joint lead underwriters and bookrunners, with First Metro Investment Corp., as the co-lead underwriter. China Banking Corp. – Trust and Asset Management Group is trustee for the transaction.