Filinvest Land Inc., the property unit of the Gotianun family, said Wednesday it raised P8.1 billion from the issuance of fixed-rate retail bonds as it ventures into logistics and industrial space.
FLI president and chief executive Josephine Gotianun-Yap said during the bond listing at the Philippine Dealing & Exchange Corp. the company would use net proceeds from the fund raising activity o fund capital expenditures.
“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,” Yap said.
FLI issued P8.1 billion in fixed-rate retail bonds due 2023 and 2026, with dividend rates of 3.3353 percent and 4.1838 percent per annum.
The bonds represent the initial tranche of the company’s P30-billion bond shelf registration program approved by the Securities and Exchange Commission.