PROPERTY developer Filinvest Land Inc. (FLI) has successfully tapped the bond market and raised P11.431 billion in fresh capital to fund capital expenditures and refinance debt.
FLI’s 3.5-year peso fixed-rate retail bonds—which are PRS Aaa-rated by the Philippine Rating Services Corp. for their outstanding quality and minimum risk—were listed on the Philippine Dealing and Exchange Corp.
(PDEx) in Makati City on Dec. 1, 2023. Tristan Las Marias, FLI president and chief executive officer said, “The impressive response to FLI’s fixed-rate retail bond offering totaling P11.43 billion reflects investor confidence in our company’s prospects and the country’s economic outlook.” FLI’s bond offering proceeds will finance its capital expenditure program and repay existing due debts.
The proceeds will also supplement internally generated funds, supporting FLI’s ongoing growth in affordable and middle-income residential projects and new projects in the industrial and retail segments.
All these plans support FLI’s commitment to Dreams Built Green – building developments that are Green and promote Health and Life Tech.