Filinvest Land Inc., a property developer led by the Gotianun Group, is returning to the debt market with the planned issuance of P35 billion worth of fixed-rate bonds.
FLI said in stock exchange filing Thursday its board of directors approved the registration of P35 billion worth of bonds with the Securities and Exchange Commission under its bond-shelf registration program.
The bonds will be issued in tranches and will have maturity of up to seven years.
It did not provide other details including the timetable for the offering and the use of proceeds. FLI has P9.03 billion worth of fixed-rate bonds maturing this year and another P1.7 billion worth of 10-year bonds maturing in 2024.
The last time FLI tapped the bond market was in December 2021 when it raised P10 billion in fresh capital, consisting of four-year bonds due 2025 with interest rate of 4.5030 percent and six-year bonds due 2027 with interest rate of 5.2579 percent per annum. Jenniffer B. Austria
