LISTED property developer Filinvest Land, Inc. (FLI) said its shelf registration of debt securities is now rendered effective after its registration statement was cleared by the Securities and Exchange Commission (SEC).
In a stock exchange disclosure on Thursday, FLI said it received the SEC order on Nov. 15 rendering effective the company’s registration statement for the shelf-registered peso-denominated fixed-rate bonds and the corresponding certificate of permit to offer securities for sale for the first tranche.
According to FLI, its bonds have an aggregate total of up to P35 billion, with the P12 billion bond offering being the first tranche consisting of P10 billion with an over-subscription option of up to P2 billion denominated fixed rate bonds.
Recently, FLI’s bond offering secured the PRS Aaa credit rating, which is the highest rating, as well as a stable outlook from Philippine Rating Services Corp.
The joint lead underwriters and bookrunners of the offering are BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp.
Rizal Commercial Banking Corp. Trust and Investments Group will serve as the trustee.
As of September this year, FLI logged a 22% increase in its attributable net income to P2.44 billion while total consolidated revenues and other income rose 11% to P15.72 billion led by growth from its residential and mall business segments.
On Thursday, shares of FLI fell one centavo or 1.79% to 55 centavos apiece. — Revin Mikhael D. Ochave
