Filinvest sets P7-B long-term bond offer

By Doris C. Dumlao |Philippine Daily Inquirer

2:00 am | Tuesday, September 16th, 2014

Gotianun-led property developer Filinvest Land Inc. plans to raise as much as P7 billion from the offering of a new series of long-term bonds.

The proposed bonds have received a credit rating of “PRS Aaa,” the highest rating on the scale of credit watchdog Philippine Rating Services Corp. (PhilRatings).

Philratings has likewise assigned the same triple-A rating on FLI’s outstanding bonds: P4.5 billion due in November 2014, P3 billion due in 2016, P7 billion due in 2019, P4.3 billion due in 2020 and P2.7 billion due in 2023.

Obligations rated “PRS Aaa” are deemed of the highest quality with minimal credit risk.

The obligor’s capacity to meet its financial commitment on the obligation is extremely deemed strong.

Philratings said the rating reflected the sustained growth of FLI’s real estate and leasing operations, resulting in strong income generation and improved cash flows; its conservative debt position and high financial flexibility.

Follow Us

Other Stories:

Lucio Tan group retakes PAL’s helm

Stocks down for a fifth day

July remittances up 6% to $2.1B

Lifting of truck ban seen easing price pressures

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools