Gotianun-led Filinvest Land Inc. is planning to borrow another P3 billion in the first quarter to fund its short-term capital requirements.
The company told the Philippine Stock Exchange over the weeken it would raise the funds through fixed-rate, five-year bonds between January and March 2010.
The proceeds will be used to fund its projects and other expenses until 2011.
The bonds will be issued in minimum denominations of P50,000 each, and in multiples of P10,000 thereafter.
The real estate firm added that it would list the debt paper on the Philippine Dealing and Exchange Corp. for trading in the secondary market.
Tapped as joint lead managers and underwriters for the borrowing were BDO Capital and Investment Corp., BPI Capital Corp. and First Metro Investment Corp.
The Securities and Exchange Commission has yet to approve the bond issue. In November, Filinvest Land raised P5 billion from the bond market.
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