Filinvest Development Corp. (FDC) said Thursday it has fully repaid the P8.8-bond bonds it issued 10 years ago.
FDC said in a stock exchange filing the 10-year bonds which matured Jan. 24, 2024, were settled through its paying agent, the Philippine Depository & Trust Corp. The bonds carried a coupon rate of 6.1458 percent annually.
The conglomerate used the proceeds from the fund-raising activity to refinance debt and partially fund the capital expenditure requirements
FDC is also in the process of raising up to P7 billion worth of fixed-rate bonds with an oversubscription option of up to P3 billion and an interest rate of 6.3206 percent per annum. Offer period started Jan. 25 and will run until Jan. 31.
The two-year bonds will be listed on the Philippine Dealing and Exchange Corp. by Feb. 7, 2024.
It plans to use the net proceeds to partially finance the redemption of its maturing bonds, fund its capital expenditures and for general corporate purposes.
The bonds will be issued as the first tranche from its P32-billon bond shelf registration program approved by the Securities and Exchange Commission in 2023.
FDC tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Bank, First Metro, Land Bank of the Philippines, RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners for the transaction.
The conglomerate has interests in real estate, financial services, power generation, sugar milling and infrastructure.
It 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.
The share price of FDC closed unchanged Thursday at P5.55.