Gotianuan family raises P11.9B in FLI’s oversubscribed bond sale

Filinvest Land Inc. (FLI) raised P11.9 billion from a bond issue that was nearly 10 times oversubscribed.

In a statement, FLI said net proceeds from the sale of three and five-year fixed rate bonds would be used to support the company’s capital expenditure program and refinance maturing debt.

FLI is expanding its affordable and middle-income residential developments.

“We have a strong line up of over P30 billion new residential projects to be rolled out in the coming year in new territories and expansions in our 32 existing MRB townships nationwide,” FLI president Tristan Las Marias said.

Plans include the development of MRBs in new areas like Bataan, Sta Maria in Bulacan, Naga in Camarines Sur, and in General Santos, South Cotabato.

“ Housing continues to grow at a stable rate despite the pandemic. We expect this to further grow as we transition out of the pandemic,” Las Marias said.

Apart from this, FLI has launched new recurring business products such as co-living, co-working, and logistics and innovation parks with ready built warehouses.

“Our first co-living development which we have branded as “The Crib” located in Clark Mimosa is eager to welcome its first dormers, with the first two buildings set to be operational very soon. There are also two more Crib buildings under construction,” he said.

Meanwhile, FLI chief executive officer Josephine Gotianun Yap expects the Innovation Park in New Clark City in Tarlac and Filinvest Technopark in Calamba, Laguna to be the preferred location of logistics, data centers, e-commerce, light manufacturing, and storage business operators.

“ This will add to our portfolio of recurring income projects which we aim to infuse into Filinvest REIT (FILRT) at the right time,” she said.

NGO blames drop in aquaculture production on PAP imports ban

Tugon Kabuhayan, a nongovernment organization advocating for food security and sustainable food production, has blamed the decline in aquaculture production in the second quarter on the import ban on processed animal proteins (PAPs) which was recently lifted by the Department of Agriculture.