Filinvest Land Inc., or FLI, a Gotianun-led full-range property developer, has raised P11.431 billion in fresh capital to bankroll capital expenditures and refinance debt.

FLI listed its 3.5-year peso fixed-rate retail bonds on the Philippine Dealing and Exchange Corp. in Makati City on Friday, 1 December.

"We take immense pride and gratitude in our investors' consistent trust in FLI. The impressive response to FLI's fixed-rate retail bond offering totaling P11.43 billion reflects investor confidence in our company's prospects and the country's economic outlook," FLI president and chief executive officer Tristan Las Marias said.

Capex program financing

FLI's bond offering proceeds will finance its capital expenditure program and repay existing due debts.

It will also supplement internally generated funds, supporting FLI's ongoing growth in affordable and middle-income residential projects and new projects in the industrial and retail segments.

FLI earlier mandated BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. to manage the public offer and issuance of the bonds.

Rizal Commercial Banking Corp. Trust and Investments Group served as trustee.

Condo, housing fire off

FLI expects to end the year with condominium and housing launches completed in Antipolo City, Taytay, Angono, Calamba City, Tanauan City, Trece Martires City, Bacoor City, Dumaguete City, and the Island Garden City of Samal.

FLI is also accelerating the development of its townships in East Town in Cainta, Rizal; Timberland Heights in San Mateo, Rizal; Ciudad de Calamba in Calamba City, Laguna, The Wood Estates in Trece Martires City, Cavite, and Palm Estates in Bacolod City, Negros Occidental.

For malls, FLI is currently constructing Marina Town in Dumaguete City and new malls in Filinvest Mimosa+ Leisure City and Activa Cubao.