Philippines' Filinvest to offer up to PHP 7 billion long-term bonds

By Marisa Wong

Madison, Wis., Sept. 16 - Filinvest Land, Inc. said it plans to offer up to PHP 7 billion of long-term retail bonds.

Specifically, the company aims to sell PHP 5 billion of fixed-rate bonds and will sell an additional PHP 2 billion if there is strong demand.

Proceeds will be used to partially fund projects targeted for the fourth quarter and 2014.

Philippine Rating Services Corp. has assigned a rating of Aaa to the planned bonds.

Filinvest Land is a Manila-based homebuilder.

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