Filinvest Land Returns to PDEx with the Listing of its PHP 11.9B Fixed Rate BondsPosted on: July 5, 2022
23 June 2022, Makati, Philippines — Filinvest Land, Inc. listed its PHP 11.9 billion Fixed Rate Bonds due 2025 and 2027 on the Philippine Dealing & Exchange Corp. (PDEx), the third tranche of its PHP 30 billion SEC approved Shelf Registration. The bonds carry a coupon rate of 5.3455% p.a. and 6.4146% p.a., respectively, to be paid quarterly.
In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil noted that the issuance exceeded its original size due to strong investor demand. “True to form, these issuances received enough tenders to trigger the over-allotment option raising the amount from PHP 8 billion, a continuing testament of the trust and confidence of FLI’s investors, which for this round notably reached a total of 4,509 holders, kudos to your distribution teams.”
SEC Commissioner Hon. Emilio B. Aquino also delivered a special message. In his message, he remarked: “Ending the first half of 2022 with the successful bond offering signifies a new milestone in the majority of our capital market, particularly the corporate debt market. The last two years have been very challenging… the Philippine economy is just beginning to recover from the disruptive impact of the emergence and rapid spread of COVID-19 pandemic.”
FLI President and Chief Strategy Officer Mr. Tristan D. Las Marias also expressed his appreciation for the outcome of this issuance. He said: “We are both delighted and proud of the trust our investors have continuously given FLI, and rest assured, we will strive hard to maintain the confidence you have given us.
“As economies move on from the pandemic, FLI has emerged stronger and well-poised for recovery. As we strengthen our core businesses and explore new opportunities, we are confident that a renewed business environment will enable us to serve more homebuyers, office, and mall customers,” added Mr. Las Marias.
This 14th admission for 2022 brings the year-to-date total of new listings and enrollments to PHP 254.35 billion, pushing the total level of tradable corporate debt instruments to PHP 1.33 trillion issued by 53 companies, comprised of 189 securities.