MANILA -The Gotainun family’s property giant Filinvest Land Inc. is preparing a series of bond sales to seize new expansion opportunities as it approves the first debt offering worth P12 billion.
In a stock exchange filing on Friday, Filinvest Land said its executive committee approved a plan to sell peso-denominated fixed-rate bonds worth P10 billion plus an oversubscription option for another P2 billion.
The bonds will have a fixed-term of 3.5 years meaning these will fall due in 2027.
The developer said this will serve as the first tranche of a proposed long-term bond program worth as much as P35 billion. The board approved the shelf registration proposal last July 19.
Keep on reading: Filinvest Land readies P12-B bond offer