Gotianun-led Filinvest Land, Inc. is planning to raise up to P10 billion through the sale of peso denominated retail bonds, the second tranche of the company's P30 billion shelf-registered bonds.
In a disclosure to the Philippine Stock Exchange on Thursday, Sept. 23, FLI said its Board of Directors has approved the planned issuance in a special meeting held on Sept. 22, 2021.
Under the plan, the firm will issue up to P8 billion worth of the retail bonds, with an over-subscription option of up to P2 billion, with maturity periods ranging from four years and up to six years.
To recall, FLI issued the first tranche of the shelf registered bonds on Nov. 18, 2020 amounting to P8.1 billion.
FLI has mandated 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. as joint lead underwriters and bookrunners.
Moreover, the company appointed the Philippine Depository & Trust Corp. as registrar and paying agent for the second tranche bond issue. The Philippine Rating Services Corp. will also issue the credit rating.
The latest bond offering will be listed with the Philippine Dealing and Exchange Corp.
“The Board of Directors of the Company has authorized the Management of the Company to evaluate all aspects relating to the proposed offering of the Second Tranche Bonds, including the determination of the timing thereof and interest rate,” FLI said.