GOTIANUN-LED Filinvest Land Inc. (FLI) on Monday said that its board had approved the issuance of up to P12 billion in peso-denominated fixed-rate bonds with a maturity period of up to 10 years.
In a disclosure, FLI said “this latest bond issuance will be the second tranche out of its P35 billion shelf-registered Philippine peso-denominated bonds of the company approved by the Securities and Exchange Commission (SEC).”
“The executive committee of the company has further authorized the management to evaluate all aspects relating to the proposed offering of the bonds, including the determination of the timing thereof,” it added.
FLI last month said that it was expecting to generate some P3.1 billion in sales from two new residential projects in the Central Visayas as it announced the launch of an 11.4-hectare coastal township, the Iloilo Centrale, and an expansion for its 2.8-hectare Futura Shores.
FLI expects to raise around P1.8 billion for Iloilo Centrale’s residential component Futura Rise while P1.3 billion are expected to be generated from the first building of Futura Shores.
For the first nine months of 2024, FLI’s consolidated net income attributable to parent rose by 8 percent to P2.65 billion as consolidated revenues and other income grew 17 percent to P18.44 billion.
FLI said that the rise in revenues were supported by 21-percent growth in booked residential real estate sales, while leasing revenues from its office and retail businesses grew 7 percent to P5.71 billion.
FLI shares were unchanged on Monday at P0.76 apiece.
Be the first to comment