Filinvest Land, Inc. Lists PHP 8 Billion Seven-Year Bonds Due 2022 and Ten-Year Bonds Due 2025 on the PDEx Organized Secondary MarketPosted on: August 28, 2015
20 August 2015, Makati City – Returning to the PDEx platform for the sixth time, Filinvest Land, Inc. (FLI) listed its PhP 8 Billion worth of fixed rate bonds due 2022 and 2025. The cumulative level of the Filinvest Group bonds listed now stands at PhP 40.8 Billion.
FLI’s listed securities, the seven-year bonds and the 10-year bonds were pegged at the final rate of 5.3567 percent per annum and 5.7139 percent per annum respectively. FLI obtained the highest rating, the “PRS Aaa”, for its debt issuance. This rating means that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.
FLI President & CEO Josephine Gotianun-Yap remarked: “We are overwhelmed by the strong demand for the FLI Bonds which resulted in an oversubscription of almost thrice the base amount of P5 billion, that enabled us to easily exercise the P3 Billion oversubscription option that was approved by the SEC. We are very thankful for the continued trust and confidence of our investors, particularly the retail segment, to invest in FLI over the long-haul.”
Commenting on FLI bonds’ primary market performance, PDS Group President & CEO Cesar B. Crisol said: “This is a good sign of investors’ trust and approval towards the business direction of FLI.”
“We thank FLI for its faith in the secondary market and making available more issues to add as investment opportunities for Philippine investors. Rest assured that PDS Group is steadfast in its commitment to provide quality service to its stakeholder communities. The platform where corporate bonds are traded constantly aims for transparency, efficiency, and integrity,” Mr. Crisol concluded.
This eighth listing for 2015 brings the year-to-date total of new listings to P77.39 Billion and the total level of tradable corporate debt instruments to P516.78 billion issued from 98 securities and issued by 33 companies.
Representatives from the underwriters also attended the event including BDO Capital & Investment Corporation Senior Vice President Eleanor M. Hilado, BPI Capital Corporation Vice President Bonifacio M. Banzon, First Metro Investment Corporation President Roberto Juanchito T. Dispo, China Banking Corporation First Vice President Virgilio O. Chua, and East West Banking Corporation Senior Vice President and Treasurer Manuel Goseco.#