MANILA, Philippines - Filinvest Development Corp. is set to tap credit markets abroad with the issuance of $200 million to $300 million worth of bonds.
"The proceeds from the bonds issuance will be used by the corporation to finance capital requirements for 2013," the firm said in a disclosure to the stock exchange.
The Gotianun family's holding firm said the exact amount and other details will still be determined by the company.
However, the issue date of the bonds has already been slated within the second quarter of the year, Filinvest said, subject to regulatory approvals.
Filinvest has interests in the real estate sector, banking and financial services, sugar farming and milling, hospitality, and utilities.