FLI raises P8.1B from bond offer

The bonds had an oversubscription of P1.35 billion over the base offer of P6.75 billion.

FLI said the final rate for the 3-year bonds due 2023 was pegged at 3.3353% per annum and the 5.5- year bonds due 2026 was at 4.1838% per annum.

Proceeds from the offering will be used to fund the property firm’s capital expenditure program aimed at expanding recurring income portfolio particularly in the logistics/industrial and office space, said FLI president and CEO Josephine Gotianun-Yap.

“FLI is encouraged by the V shape recovery in its residential sales take-up post MECQ. We will remain true to our core competency of meeting the needs of majority of the population by providing affordable and middle-income MRBs and houses. Furthermore, we will be launching residential developments alongside mixed-used projects within integrated townships to further showcase the dynamic synergies within our company and its affiliates,” she said.

BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Bank and SB Capital Investment Corp. served as joint lead underwriters and bookrunners.

Converge backs infrastructure sharing to lower costs

Bilyonaryo Dennis Anthony Uy’s Converge ICT Solutions Inc. is supporting a proposal that allows telcos or internet service providers to share the cost of installation of underground pipes for telecommunication cables whenever new road infrastructure is built.