Filinvest Land Inc., the listed property development arm of the Gotianun Group, has successfully tapped the bond market and raised P12 billion to fund capital expenditures and refinance debt. FLI issued 5-, 7- and 10-year peso fixed-rate retail bonds, which are PRS Aaa-rated by the Philippine Rating Services Corp. for their outstanding quality and minimum risk. The bonds were listed on the Philippine Dealing and Exchange Corp. (PDEx). This is the second tranche of FLI’s 2023 bond shelf-registration.
“The impressive response to FLI’s fixed-rate retail bond offering totaling P12 billion reflects investor confidence in our company’s prospects. We are grateful for our investors’ consistent trust in FLI,” said Tristan Las Marias, FLI president and chief executive officer.
FLI earlier mandated BDO Capital and 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 SB Capital Investment Corp. to manage the public offer and issuance of the bonds.
Metropolitan Bank & Trust Company – Trust Banking Group served as trustee.
