Property developer Filinvest Land Inc. plans to offer up to P10 billion worth of fixed-rate retail bonds.
Filinvest Land said in a disclosure to the stock exchange it filed with the Securities and Exchange Commission the preliminary prospectus for the offering of up to P8 billion. The company also eyes another P2 billion as oversubscription option in case of strong demand from investors.
The bonds will have maturity periods ranging from four years to six years. The bonds will be rated by Philippine Rating Services Corp. and will be listed on the Philippine Dealing and Exchange Corp.
The latest bond issuance will be issued as the second tranche from the company’s P30-billion bond shelf registration program approved by the SEC last year.
It assigned 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. to manage the offering.
