Fruitas Holdings Inc., the leading operator of multi-format food and beverage stores, said Wednesday it raised P200 million via a maiden private placement of corporate notes.
Fruitas said in a disclosure to the stock exchange it would use the proceeds from the fund-raising activity for working capital requirements and general corporate purposes.
The corporate notes were issued to qualified individual or institutional buyers (QIBs) and not more than 19 primary institutional lenders. RCBC Capital Corp. arranged the deal. “This milestone represents a significant step forward for Fruitas Holdings, signifying our increasing prominence in the market. We express our utmost gratitude to the investors which subscribed to our notes.,” said Fruitas president and chief executive Lester Yu.