FILINVEST Land Inc. (FLI) is set to issue up to P12 billion in fixed-rate, peso-denominated retail bonds, marking its second tranche under a P35-billion shelf-registered program. The bonds will be issued in three subseries with maturities of five, seven, and 10 years.
FILINVEST Land Inc. (FLI) announced on Thursday it filed a registration statement with the Securities and Exchange Commission (SEC) for an offering of up to P12 billion in fixed-rate, peso-denominated retail bonds. The base offer will be P9 billion with an oversubscription of up to P3 billion, to be issued in three subseries of five-year, seven-year and a 10-year bonds due 2030, 2032 and 2035.
This latest bond issuance will be the second tranche out of its P35-billion shelf-registered peso-denominated bonds under SEC MSRD Order No. 64, Series of 2023. The proposed bond offer has received a credit rating of PRS Aaa from the Philippine Rating Services Corp. (PhilRatings). PhilRatings also maintained its PRS Aaa credit rating, with a 'stable' outlook, for each of the outstanding bond issuances of FLI totaling P36.1 billion. FLI mandated 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 public offer and issuance. Metropolitan Bank & Trust Co. was tapped to serve as trustee. The second tranche bonds will be listed with the Philippine Dealing and Exchange Corp. 'as and when issued,' FLI said. The developer reported a 23.6-percent rise in net income to P3.5 billion from January to September this year on the back of a 17.3-percent year-on-year growth in revenue to P18.4 billion. On Thursday, FLI shares closed unchanged at P0.67 each
FILINVEST Land Bonds Retail Offerings Financial Philippines
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