Gotianuns deploy P2.4B from Filinvest REIT IPO funds

Filinvest REIT led by bilyonaryo Josephine Gotianun-Yap has so far disbursed 20 percent of the P12.6 billion it raised from the initial public offering (IPO) last year.

FILRT has spent a total of P2.4 billion for Filinvest property projects, construction arm, and purchase of new land from August to December 2021.

FILRT’s biggest property spending went to Axis Three and Four towers in the Northgate Cyberzone in Filinvest City (P841 million), Alta Spatial condo in Valenzuela City (P167 million), Clark Lifestyle Mall in Pampanga ( P156 million), Cyberzone Tower 3 in Cebu City ( P140 million), and Panglao Oasis low-rise condo in Taguig City (P132 million).

It allocated P361 million in the purchase of raw land and P199 million for the capital expenditures of Dreambuilders.

SOURCE: Bilyonaryo

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Gotianuns to raise up to P10B from fresh bond offer

Filinvest Land Inc. (FLI) is returning to the bond market this year to raise as much as P10 billion from the sale of debt securities.

In a regulatory filing, FLI said its board approved a base offer of P8 billion worth of fixed-rate peso denominated retail bonds with an option to upsize it by another P2 billion.

The bonds will have a tenor ranging from four years to six years.

This is the second drawdown from FLI’s P30 billion shelf registration program with the Securities and Exchange Commission.

The last time FLI tapped the local bond market was in November last year, raising P8.1 billion.

FLI has mandated BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp. First Metro Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners.

FLI has earmarked P16 billion for capital spending this year, P6.4 billion of which will go to residential developments, P5.8 billion for offices and P3.8 billion for retail/logistics/innovation parks and land acquisitions.

SOURCE: Bilyonaryo

 

 

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