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Manila Bulletin devider Business devider The Stock Market devider FLI plans P12-B bond offering

FLI plans P12-B bond offering

Published Aug 25, 2023 08:31 am

Filinvest Land Inc. (FLI), one of the Gotianun Group’s property development units, is planning to raise up to P12 billion from the issuance of peso-denominated fixed-rate bonds.

In a disclosure to the Philippine Stock Exchange, the firm said the planned bond offering has been approved by its executive committee during their meeting last Aug. 24.

The bond offering will be the first tranche of FLI’s proposed shelf registration, with an aggregate principal base amount of P10.0 billion and with an oversubscription option of up to P2.0 billion. 

The first tranche will have a fixed term of 3.5 years and will be due in 2027.

“The Executive Committee of the Company has further authorized the Management to evaluate all aspects relating to the proposed offering of the Bonds, including the determination of the timing thereof,” FLI said.

FLI is seeking to bolster its industrial presence and firm up its foothold in the booming Southern Tagalog region with the construction and development of its new 25-hectare Filinvest Innovation Park in Calamba City, Laguna.

The firm has just broken ground on Filinvest Innovation Park-Ciudad de Calamba (FIP-CDC) in Calamba City’s Barangay Bubuyan. 

FIP-CDC is an expansion of FLI’s 50-hectare Filinvest Technology Park, a PEZA ecozone established in 2002 in Ciudad de Calamba, a 350-hectare Modern Filipino Hispanic Filinvest townscape. 

It joins FIP New Clark City in Capas, Tarlac as FLI’s concrete commitment to catalyzing the country’s economic growth through its strategically located innovation parks. 

"FIP-CDC marks a significant step forward for FLI as we expand our industrial presence in the Southern Tagalog region. With its cutting-edge green and digital features, FIP-CDC will offer a prime environment for logistics, e-commerce, and light manufacturing locators,” said FLI President and CEO Tristan Las Marias. 

He added that, “we are proud to provide a platform that not only supports businesses but also contributes to the growth of the local economy.”

Upon its completion, FIP-CDC will lease out ready-built factory (RBF) and built-to-suit units catering to prospective locators’ varying requirements. 
FIP CDC’s RBFs are envisioned to meet Grade A warehouse specifications such as higher ceiling clearance and floor load capacity, elevated production floors with loading docks, and superior utilities infrastructure support, including access to high-speed Internet, fire detection and suppression. 

They will also have provisions for rooftop solar panels and rainwater harvesting. 

Further, the entire FIP-CDC is a PEZA-registered ecozone, allowing locators to enjoy tax perks, simplified trade procedures, and special visa privileges for foreign employees. 
 
 

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Filinvest Land Inc Tristan Las Marias
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