Conglomerate Filinvest Development Corp. (FDC) of the Gotianun Group said Wednesday it raised P10 billion from the issuance of fixed-rate bonds.
FDC said in a stock exchange filing the bonds, which were listed on the Philippine Dealing & Exchange Corp., have a tenor of 2.5 years and carry an interest rate of 6.3206 percent per annum.
The P10-billion bonds were issued as first tranche from the company’s P32-billion bond shelf registration program approved by the Securities and Exchange Commission in 2023.
FDC said it would use the proceeds from the fund-raising activity to finance capital expenditures and repay existing debts.
The bond received the highest PRS Aaa rating from the Philippine Rating Services Corp. (PhilRatings).
FDC tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Bank, First Metro Investments Corp., Land Bank of the Philippines, RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners for the transaction.
FDC fully repaid in January the P8.8 billion bonds it issued 10 years ago.
The conglomerate has interests in real estate, financial services, power generation, sugar milling and infrastructure.
It has recently ventured into renewable energy, water projects, hospitality and digitalization projects and is looking at opportunities in project expansions, adjacent businesses or new ventures including urban solution and renewables.