Filinvest Land's retail bond offering raises over P11 billion 

FILINVEST LAND LISTS P11.4-B BONDS ON PDEX. Full-range property developer Filinvest Land, Inc. (FLI) successfully listed its 3.5-year peso fixed-rate retail bonds on the Philippine Dealing and Exchange Corp. (PDEx) on Dec. 1, 2023. Leading the ceremony for FLI were Tristan Las Marias, FLI President & CEO (right of bell); Josephine Gotianun Yap, FLI Vice Chairperson (left of bell), Val Antonio B. Suarez and Michael Edward T. Gotianun, FLI Directors (4th and 3rd from left of bell, respectively); and Venus A. Mejia, FLI CFO (2^nd from right of bell).

They were also joined by (from left) China Bank Capital Corp. Managing Director Juan Paolo E. Colet, East West Banking Corp. Head-Financial Markets and Wealth Management Rafael S. Algarra, BDO Capital & Investment Corp. SVP Gabriel U. Lim, BPI Capital Corp. SVP John Macapagal, Philippine Depository & Trust Corp. Preisdent & CEO Ma. Theresa B. Ravalo, PDEx President & CEO Antonino A. Nakpil, RCBC Capital Corp. President & CEO Arsenio Kenneth M. Ona, First Metro Investment Corp. EVP & Group Head of Investment Banking Daniel D. Camacho, SB Capital President & CEO Virgilio O. Chua, and PNB Capital & Investment Corp. Head of Origination & Execution Jose Eduardo S. De Rivera.

Full-range 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 Corporation for their outstanding quality and minimum risk—were listed on the Philippine Dealing and Exchange Corp. (PDEx) in Makati City on Dec. 1, 2023.

"We take immense pride and gratitude in our investors' consistent trust in FLI. 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," said Tristan Las Marias, FLI President and Chief Executive Officer.

FLI earlier mandated BDO Capital and Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, East West Banking Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation to manage the public offer and issuance of the bonds. Rizal Commercial Banking Corporation - Trust and Investments Group served as trustee.

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.

"FLI is posting strong growth performance, and we are on track to meet our forecast for the entire year. Our plans are bearing fruit, and we have our third-quarter growth ratios as evidence," Las Marias added.

FLI expects to end 2023 with condominium and housing launches completed in Antipolo City, Taytay, Angono, Calamba City, Tanauan City, Trece Martires City, Bacoor City, Dumaguete City, and the Island Garden City of Samal.

FLI is also accelerating the development of its townships in East Town in Cainta, Rizal; Timberland Heights in San Mateo, Rizal; Ciudad de Calamba in Calamba City, Laguna, The Wood Estates in Trece Martires City, Cavite, and Palm Estates in Bacolod City, Negros Occidental.

These FLI townships will include residential, commercial, transportation, and school components to create a self-sufficient environment that considers the needs of residents and customers in mind.

For malls, FLI is currently constructing Marina Town in Dumaguete City and new malls in Filinvest Mimosa Leisure City and Activa Cubao. These will expand FLI's retail portfolio by about 55 thousand square meters in gross leasable area (GLA), bringing FLI's nationwide retail GLA to about 300 thousand square meters.

FLI is also present in the industrial park and ready-built factory leasing businesses with its Filinvest Innovation Parks in New Clark City, Tarlac, and Ciudad de Calamba, Laguna.