MANILA, Philippines — Property developer Filinvest Land Inc. is embarking on fundraising efforts as their board approved a plan to issue fixed-rate peso-denominated bonds.
Their disclosure to the Philippine Stock Exchange on Thursday bared that FLI’s board of directors approved the proposed shelf registration statement for the issuance.
The bond offer amount is expected to hit up to P35 billion, with a maturity period of up to seven years.
The Gotianun-led property developer reportedly retired P6 billion in retail bonds issued by Cyberzone Properties Inc. back in January.
Shares in FLI currently trade flat at P0.67 apiece as of 10:26 Thursday morning. — Ramon Royandoyan