Filinvest Land raises P8 billion from fixed-rate retail bonds issue

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/11/18/activa.jpg"/><figcaption>Activa Cubao condominium by Filinvest Land. <em>Handout</em></figcaption></figure></div><p>MANILA - Filinvest Land on Wednesday said it raised P8.1 billion via the issuance of fixed-rate retail bonds seen to boost its capital expenditure program.</p><p>The 3-year tenor bonds due 2023 had a coupon rate of 3.3353 percent per annum and the 5.5-year bonds due 2026 at 4.1838 percent per annum, it said.</p><p>The initial tranche is part of a planned P30 billion bonds program and listed at the Philippine Dealing and Exchange Corp. It received the highest PRS Aaa rating from PhilRatings and were oversubscribed by P1.35 billion over the base amount of P6.75 billion, it added.</p><p>“With this bond issuance, FLI is now well-prepared for its planned expansion. FLI is targeting to further expand its recurring income portfolio particularly in the logistics/industrial and office space,” said Filinvest Land President and CEO Josephine Gotianun-Yap.</p><p>BDO Capital, BPI Capital, China Bank Capital, East West Bank, and SB Capital served as joint lead underwriters and bookrunners, while First Metro Investment Corp as co-lead underwriter.</p><p>Filinvest Land posted a 40 percent drop in net income for the first nine months of the year at P2.63 billion from P4.37 billion in the same period last year as the pandemic affected residential revenues.</p><p>Gross total revenues however improved in the third quarter, it said, as the easing of lockdowns increased demand.</p><p>“FLI is encouraged by the V shape recovery in its residential sales take-up post MECQ. We will remain true to our core competency of meeting the needs of majority of the population by providing affordable and middle-income MRBs and houses. Furthermore, we will be launching residential developments alongside mixed-used projects within integrated townships to further showcase the dynamic synergies within our company and its affiliates,” said Gotianun-Yap.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/28/20/sec-clears-public-offerings-by-filinvest-land-megawide-and-cityland">SEC clears public offerings by Filinvest Land, Megawide and Cityland</a></li>	<li><a href="https://news.abs-cbn.com/business/10/02/20/filinvest-launches-program-to-aid-digital-transformation-of-companies">Filinvest launches program to aid digital transformation of companies</a></li></ul><figure class="op-interactive"><iframe src="https://www.youtube.com/embed/usdmPQfbgSA?enablejsapi=1"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Filinvest Land on Wednesday said it raised P8.1 billion via the issuance of fixed-rate retail bonds seen to boost its capital expenditure program.</p>

Filinvest Land on Wednesday said it raised P8.1 billion via the issuance of fixed-rate retail bonds seen to boost its capital expenditure program.

Filinvest Land raises P8 billion from fixed-rate retail bonds issue | ABS-CBN

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Filinvest Land raises P8 billion from fixed-rate retail bonds issue

Filinvest Land raises P8 billion from fixed-rate retail bonds issue

ABS-CBN News

Published Nov 18, 2020 11:58 AM PHT

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