Filinvest Land Raises P11.43B in Bonds to Fuel Expansion, Debt Refinancing

Filinvest Land, Inc. (FLI), a full-range property developer, has successfully accessed the bond market to raise P11.431 billion in fresh capital.

This funding is earmarked for capital expenditures and refinancing existing debts. The company’s 3.5-year peso fixed-rate retail bonds, awarded a PRS Aaa rating by the Philippine Rating Services Corporation for their exceptional quality and minimal risk, were listed on the Philippine Dealing and Exchange Corp. (PDEx) in Makati City on December 1, 2023.

FLI President and CEO Tristan Las Marias expressed gratitude for the investors’ continued confidence in the company, noting the significant response to the bond offering as a reflection of investor trust in FLI’s potential and the positive economic outlook of the country.

The bond offering was managed by a consortium of top financial institutions, including BDO Capital and Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, East West Banking Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation. Rizal Commercial Banking Corporation – Trust and Investments Group served as the trustee.

The proceeds from this offering are planned to be allocated towards FLI’s capital expenditure program, repayment of maturing debts, and supplementing internally generated funds. This financial infusion will support FLI’s growth in various sectors, including affordable and middle-income residential projects, and new ventures in industrial and retail segments.

FLI is committed to its ‘Dreams Built Green’ initiative, focusing on developing eco-friendly projects that promote health and life technology. The company is showing strong growth performance and is on track to meet its annual forecast, as evidenced by its robust third-quarter growth ratios.

Looking ahead, FLI anticipates completing several condominium and housing projects in various cities by the end of 2023. The company is also rapidly developing its townships, which feature residential, commercial, transportation, and school components, aiming to create self-sufficient environments catering to the needs of residents and customers.

Additionally, FLI is expanding its retail portfolio with new mall constructions and is actively involved in the industrial park and ready-built factory leasing businesses through its Filinvest Innovation Parks in New Clark City, Tarlac, and Ciudad de Calamba. These developments are set to significantly increase FLI’s gross leasable area, enhancing its nationwide retail footprint.

BusinessTimes Philippines

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