The Securities and Exchange Commission (SEC) approved the P35-billion bond-shelf registration program of property developer Filinvest Land Inc. (FLI).
The SEC, in a meeting on Oct. 26, approved the registration statement of FLI covering peso-denominated bonds which may be issued in one or more tranches.
FLI will offer up to P10 billion of bonds due 2027, with an oversubscription option for another P2 billion.
FLI plans to use the proceeds from the fund-raising activity to partially finance the full redemption of the company’s bonds and partially fund capital expenditures.
The bonds will be offered to the public from Nov. 16 to 22 in time for listing at the Philippine Dealing and Exchange Corp. on Dec. 1, according to the latest timetable submitted to the SEC.
The company engaged BDO Capital & Investment Corp., China Bank Capital Corp., EastWest Capital Corp., First Metro Investment Capital, PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners for the offering.
