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
