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Manila Bulletin devider Business devider The Stock Market devider SEC approves Filinvest Land's P35 B shelf registration

SEC approves Filinvest Land's P35 B shelf registration

Published Oct 27, 2023 06:25 am

The  Securities and Exchange Commission (SEC) has approved Filinvest Land Inc.’s shelf registration for fixed-rate bonds worth up to P35 billion.

In a statement, the SEC said its Commission En Banc “resolved to render effective the registration statement of Filinvest Land covering peso-denominated bonds which may be issued in one or more tranches, subject to the company’s compliance with certain remaining requirements.”

Filinvest Land will offer up to P10 billion of bonds due 2027 for the first tranche, with an oversubscription option of up to P2 billion.

To reach the listing date at the Philippine Dealing and Exchange Corp. on Dec. 1, the bonds will be issued at face value starting Nov. 16 until 22.

Net proceeds from the offer may reach P11.85 billion if the oversubscription option is utilized.

The proceeds of the sale will be used to “partially finance the full redemption of the company’s bonds and to partially fund capital expenditures.”  

The joint lead underwriters and bookrunners for the offer will be BDO Capital & Investment Corp., China Bank Capital Corporation, EastWest Capital Corporation, First Metro Investment Capital, PNB Capital and Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation. 
 

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Filinvest Land Inc. Securities & Exchange Commission
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