FILINVEST LAND, INC.’S board has approved the issuance of as much as P11.57 billion in fixed-rate peso bonds, the third tranche under its P35-billion shelf registration program with the Securities and Exchange Commission.
The bonds, with maturities of as much as 10 years, will refinance existing debt and fund capital expenditures across the property developer’s residential, retail and mixed-use developments, the corporate said in a press release on Monday.
The planned issuance comes amid improving liquidity in local markets and rising investor appetite for high-quality corporate credits. Demand for established developers with diversified portfolios stays resilient despite broader economic uncertainties.
“This bond issuance allows us to further strengthen our capital structure while funding projects that directly support our growth priorities,” Filinvest Land President and Chief Executive Officer Tristan Las Marias said in a disclosure to the Philippine Stock Exchange (PSE). “We remain focused on disciplined expansion, operational efficiency and delivering long-term value to our stakeholders.”
This yr, the corporate plans to launch residential projects targeting mid-market buyers and horizontal communities in provincial growth corridors, including walk-up condominium projects and township expansions in San Rafael, Bulacan and Leganes, Iloilo.
Developments in San Pedro, Laguna and Tanauan, Batangas are also a part of its pipeline, the corporate said.
In its retail and mixed-use portfolio, Filinvest Land intends to proceed investing in asset enhancements and regional mall expansions to enhance tenant mix, foot traffic, and integration with surrounding townships. The strategy reflects a shift toward community-focused lifestyle hubs that mix retail, leisure and work spaces.
The developer operates a nationwide platform encompassing residential communities, townships, office developments, malls and industrial parks. Its diversified footprint positions it to learn from urban expansion, industrial decentralization and sustained housing demand in high-growth regional markets.
Filinvest Land is a unit of Filinvest Development Corp. (FDC) and holds a 20% stake in Filinvest Alabang, the developer of Filinvest City, South Metro Manila’s 244-hectare central business district and residential to Festival Mall.
The corporate can be developing two townships within the Clark Freeport Special Economic Zone: the 288-hectare Filinvest Latest Clark City and 201-hectare Filinvest Mimosa+ Leisure City, the latter in partnership with FDC.
Final terms and timetable for the bond offer will likely be disclosed upon regulatory clearance, the corporate said.
The issuance is an element of a broader trend amongst Philippine developers tapping fixed-income markets to support growth and manage leverage, amid easing liquidity and renewed investor confidence in corporate bonds.
In March last yr, the corporate raised P12 billion from the second tranche of its shelf-registered bonds, which supported its retail and industrial expansions.
Meanwhile, Filinvest Land’s attributable net income last yr rose 0.17% to P4.17 billion from a yr earlier. Revenue grew 5.5% to P24.5 billion, based on the corporate’s financial plan submitted to the PSE.
Retail leasing revenue rose 10% to P2.78 billion, as occupancy improved to 80% from 72%.
Real estate revenue went up 6% to P16.27 billion, supported by P15.92 billion in residential revenue and P357 million in industrial lot sales, the corporate said.
Filinvest Land shares rose 1.23% to P0.82 each on the PSE. — Alexandria Grace C. Magno and Sheldeen Joy Talavera