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FLI cleared to float retail bonds

[ ] June 28, 2011

FILINVEST Land Inc. (FLI) has secured regulatory approval to issue its fixed-retail bonds next month.

In a disclosure to the Philippine Stock Exchange, the real estate company of the Gotianun family said it has received a certificate of permit to offer securities for the sale of P3 billion in bonds from the Securities and Exchange Commission.

With a term of five years and three months, the bonds will yield an interest of 66.1962 percent per annum.

Offer period started Monday and would last until Thursday. Issue date would be on July 7.

Unicapital Inc. was tapped as the issue manager and underwriter the offering, while an FLI affiliate, East West Banking Corporation, would be the selling agent.

The bonds will be issued in minimum denominations of P50,000 each and in multiples of P10,000 thereafter.

The P3-billion bonds have been assigned a PRS Aaa rating by the Philippine Rating Services Corp., the highest rating assigned by the agency.

Krista Angela M. Montealegre

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