Filinvest Land Inc. (FLI) has secured the Securities and Exchange Commission’s approval to raise as much as P10 billion from the issuance of fixed-rate bonds.
FLI is offering P8 billion worth of four-year and six-year bonds with an option to upsize by another P2 billion.
The bonds due 2025 carry an interest rate of 4.5030 percent while the bonds due 2027 have an interest rate of 5.2579 percent per annum.
This latest bond issuance represents the second tranche of FLI’s P30 billion shelf registration with the SEC filed in 2020.
The real estate development firm of the Gotianun family has mandated BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., RCBC Capital Corporation and SB Capital Investment Corp. as the joint lead underwriters and bookrunners.
FLI has earmarked P16 billion for its capital expenditures this year to build new residential, office and retail projects as well as for logistics and land acquisitions.
The company has a P30 billion pipeline of residential projects with plans to enter new markets including General Santos, Naga, Dagupan and Bataan.