Federal Land raises P6.6B from 5-year notes

MANILA, Philippines - Federal Land Inc., the real estate development arm of taipan George S.K. Ty’s Metrobank Group, raised P6.6 billion from its maiden issuance of five-year fixed rate corporate notes.

The issue, solely arranged by First Metro Investment Corp., was oversubscribed, forcing Federal Land to increase the issue size to P6.6 billion from the original P5 billion. A total of 18 lenders, which included a mix of banks, trust companies and mutual funds, participated in the offering.

“We are very happy with the capital market’s positive reception of the notes issue. This landmark transaction gives us a clear indication of investors’ confidence in both Federal Land and the Metrobank Group in general,” said Jose Mari Banzon, executive vice president and general manager of Federal Land.

Tracing its roots from 1972 under Federal Homes, Inc., the company has nearly four decades of experience in property development and has established a reputation as one of the country’s leading vertical developers. Federal Land’s track record has been recognized within the industry, as it is a recipient of the Developer of the Year Award from the Chamber of Real Estate and Builders Association (CREBA).

 Some of its notable projects are the GT Tower International, Phil AXA Tower and Skyland Plaza in Makati City; The Oriental Garden Complex in Makati, Marquinton Residences in Marikina; Bay Garden Complex in Macapagal and the Marco Polo Plaza Hotel in Cebu.

Federal Land has more than 20 ongoing developments that include the The Grand Midori Makati,; The Capital Towers in Quezon City, The Peninsula Garden in Paco, Manila and the Riverview Mansion and the Four Seasons Riviera, both high-end developments in Binondo, Manila.

Recently, the company launched The Residences, a high-rise project located just beside the Marco Polo Plaza Hotel, Cebu. It also recently unveiled the prestigious 66-storey Grand Hyatt Hotel to be erected in Fort Bonifacio.