Filinvest Land to offer P3B fixed-rate retail bonds

MANILA, Philippines—The Gotianun-led property developer Filinvest Land Inc. has set an offering of P3 billion worth of five-year fixed-rate retail bonds with a yield of 6.1962 percent per annum this week.

In a disclosure to the Philippine Stock Exchange on Monday, FLI said the Securities and Exchange Commission had approved the offering, which would run from June 27 to 30. The issue date of the bonds, which will have a maturity of five years and three months, has been set for July 7.

Issue manager and underwriter for offering is Unicapital Inc. while the Gotianuns’ banking arm East West Bank is the selling agent.

Proceeds from the retail bond issuance will be used by FLI to augment capital spending for this year.