Filinvest Land Inc. (FLI) successfully raised P9 billion from the issuance of retail bonds, The Manila Times reported. The offering was oversubscribed, indicating strong investor demand for the company's debt papers.
Proceeds from the bond sale will be used to fund land acquisition and development projects, as well as for general corporate purposes. The bonds carry a fixed interest rate and have a five-year tenor.
The fundraising comes as the property developer expands its residential and commercial portfolio amid a recovering real estate market. FLI is a subsidiary of the Gotianun-led Filinvest Group.