The Securities and Exchange Commission has approved the shelf registration of Filinvest Land Inc. for up to P35 billion in fixed-rate bonds.
At its en banc meeting, the agency green lighted FLI’s peso-denominated bonds to be issued in one or more tranches. In the first tranche, Filinvest Land will offer up to P10 billion of bonds due 2027 with an oversubscription option of up to P2 billion.
Assuming the oversubscription option is fully exercised, net proceeds are expected to reach P11.85 billion. Proceeds will be used to partially finance the full redemption of the company’s bonds and to partially fund capital expenditures.
The bonds will be issued at face value from
16 to 22 November in time for listing at the Philippine Dealing and Exchange Corp. on 1 December, according to the timetable submitted.The company has picked BDO Capital and Investment Corp., China Bank Capital Corp., EastWest Capital Corp. First Metro Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners.
The company, through Filinvest-BCDA Clark, Inc., its joint venture with the Bases Conversion and Development Authority, recently launched Filinvest Innovation Park-New Clark City in Capas, Tarlac. “The FIP-NCC represents a significant stride for Filinvest Land as we expand our industrial footprint in Central Luzon. With its state-of-the-art green and digital features, FIP-NCC will provide an ideal environment for logistics, e-commerce, and light manufacturing ventures,” Tristan Las Marias, FLI president and CEO, said.
The first phase was launched in ceremonies on 20 October which included the blessing of the park’s two-story administration building and groundbreaking of its ready-built factory zone.
These RBFs, offered in 2,500-, 4,000- and 5,000 square-meter units, are designed with warehouse specifications.
