Filinvest Land settles P5-billion bonds

GOTIANUN-LED Filinvest Land, Inc. (FLI) said it has redeemed P5 billion worth of four-year fixed-rate bonds that matured on Dec. 21.

In a stock exchange disclosure on Friday last week, FLI said the bond proceeds were invested in its residential projects in Quezon City and Mandaluyong City amid strong demand.

Projects financed by the bond issuance include the 34-storey One Filinvest tower in the Ortigas area and the Activa mixed-use development in Cubao, Quezon City, which is scheduled to begin operations in 2026.

Bond proceeds were also allocated to the Studio 7 tower in Quezon City, which houses the 8,120-square-meter office of the Department of Information and Communications Technology.

The Philippine Depository & Trust Corp. facilitated the bond redemption as registrar and paying agent, with payment made on Dec. 22, it said.

FLI Chief Operating Officer and Chief Financial Officer Ana Venus A. Mejia said the redemption reflects the company’s continued financial discipline and alignment with its long-term capital strategy.

“This shows our unwavering commitment to financial prudence and demonstrates our ability to manage obligations and to invest in our core developments nationwide,” she said.

FLI’s portfolio includes office towers, mid-rise and high-rise residential developments, townships, mixed-use developments, malls, and leisure projects.

The company has also developed large-scale townscapes, including the 300-hectare (ha) Havila; 677-ha Timberland Heights; and 60-ha Manna East in Rizal; 335-ha Ciudad de Calamba in Laguna; 51-ha Palm Estates in Talisay City, Negros Occidental; and the 58-ha City di Mare in Cebu City.

FLI is developing two townships in Clark, Pampanga — the 288-ha Filinvest New Clark City within the Clark Freeport Zone, and the 201-ha Filinvest Mimosa+ Leisure City, which it is developing in partnership with its sister firm, Filinvest Development Corp.

In the first nine months, FLI posted a 5% increase in consolidated net income to P3.64 billion, driven by the strong performance of its real estate and leasing segments.

FLI shares last closed at 74 centavos apiece on Dec. 23. — Beatriz Marie D. Cruz