GT Capital realigns IPO proceeds use

Business Mirror - GT CAPITAL Holdings Inc., the newly listed investment holding company of businessman George Ty, is making adjustments to the use of initial public offering (IPO) proceeds pertaining to the repayment of debt.

In a filing to the Philippine Stock Exchange on Wednesday, GT Capital’s board agreed to use the P2.8 billion originally allocated to pay obligations with Union Bank of the Philippines to partially settle a P4-billion term loan with Metropolitan Bank and Trust Co. GT Capital partly owns Metrobank.

The loan, which will be paid out by June 30, was used by GT Capital to increase its stake in power unit Global Business Power Corp.

Based on its offer prospectus, GT Capital planned to use the amount to fully settle a P2-billion term loan with UnionBank and to partially cover P800 million out of a P5-billion notes facility.

The P2-billion UnionBank loan, availed in 2011, has a term of five years while the P5-billion notes facility, availed in 2010, is divided into a P4.2-billion three-year tranche and an P800 million five-year tranche.

GT Capital completed in April the Philippines’s biggest IPO since Cebu Air Inc. in 2010, raising P21.6 billion in primary and secondary offerings that were well received by local and international investors.

Most of the primary proceeds will be used by the company to increase ownership in its power and real estate units alongside investments in expansion.

GT Capital’s units include Global Business Power Corp., Federal Land Inc., Metrobank, Toyota Motor Philippines, and Philippine AXA Life Insurance Corp.

GT Capital shares rose 0.4 percent to P500 each on Wednesday, giving it a market value of P79 billion. 

For more details on Federal Land projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

APO Floors is Federal Land's choice for flooring materials for projects

APO Floors provides Federal Land projects like its flagship Oriental Gardens with added beauty, as well as safety and hygiene features for its residents.
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(The Philippine Star)  - Both believing in providing only the best quality products to its customers, Apo Floors and Federal Land recently renewed their commitment for a mutually beneficial trade partnership.

APO Floors has supplied flooring for a number of Federal Land projects already. A partner of the Metrobank Group, Federal Land has a track record of quality and reliability, and this is reflected as well on their choice of flooring.

Said APO Floors Missy Castro, “We are proud to have Federal Land in our roster of clients. We are glad to be a part of their impressive track record of quality in all its real estate projects.”
APO Floors was chosen to supply flooring for Federal Land’s numerous projects, from mid-end, to upscale ones. Some of the partnerships’ beautifully created residences include the Midtown Garden Mansion, the Peninsula Garden, Midtown Homes, Oriental Place, Oriental Garden, Marquinton Cordova Tower, and the Grand Midori.

A particular staple in Federal Land’s projects is APO Floors’ AVQT homogenous resilient line that comes in a variety of colors and in tile or roll forms.

For instance, for the property firm’s flagship project, the Oriental Gardens in Makati, Federal Land utilizes APO Floors’ AVQT tiles to wow visitors in its model units.

Aside from its aesthetic qualities, Apo Floors’ product lines also have uniform composition that prevents the color of the tile to fade throughout its lifespan. It is an affordable floor covering whose cushioned core makes it more comfortable for the feet and legs. This same cushioning property keeps the floor surface warmer to the touch owing to the insulating value it gives.

It also has the APO Antibac feature incorporated in the molecular structure of the floorings. These neutralize germs and fungi on flooring day-after-day, year-after-year providing an added level of hygiene and safety to things that come in contact with the flooring material. With ingredients registered and approved by regulatory agencies such as EPA (Environmental Protection Agency) in the US, Antibac is safe, effective and durable.
Other benefits of using APO Antibac include protection from odor, staining and discoloration, loss of properties (e.g. hardening), biofilm formation, and cross-contamination.

Said Castro, “We want our products to be testaments of how we can have finishing products in the market that do not only contribute to the beauty of the project, but also to the safety and hygiene of its residents.”

For more details on Federal Land projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.