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FLI completes payment of P7-B in bonds

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FILINVEST Land, Inc. (FLI) has paid off its P7-billion bonds earlier this month, it told the stock exchange on Friday.

The Gotianun-led property developer said in a disclosure that it has completed the payment of the seven-year fixed rate bonds that were issued on June 8, 2012.

The bonds, which carried an annual interest of 6.2731%, matured last June 8 and were then paid in full by June 10 through the Philippine Depository & Trust Corp.

FLI earlier said the capital raised from the issuance will be used to partially finance its capital expenditures for 2012. At the time, the company planned to launch P14.5 billion worth of residential units. It was also constructing office buildings for the outsourcing sector in Mandaluyong and Northgate Cyberzone in Alabang.

In a regulatory filing, the company said it has P24.57 billion in long term debt as of March 31, 2019. Aside from the P7-billion bonds that matured this month, FLI also has issuances that will fall due from 2020 until 2023.

FLI booked a net income attributable to the parent of P1.79 billion in the first quarter of 2019, 24% higher year on year, on the back of a 17% increase in gross revenues to P6.83 billion.




Shares in FLI slipped by a centavo or 0.58% to close at P1.72 each at the stock exchange on Friday. — Arra B. Francia