Filinvest spurs growth plans with 4.5x oversubscribed bonds

Business.
Business.(Business File photo)

FILINVEST Development Corp. (FDC) has listed the first tranche of its P32 billion fixed rate bonds on the Philippine Dealing & Exchange Corp.

The bond issuance consisted of a base offer of P7 billion, with an option for oversubscription of up to P3 billion. At an interest rate of 6.3206 percent per annum and a maturity period of 2.5 years, the bonds garnered significant interest from investors, with subscriptions exceeding the base offer by more than fourfold.

Rhoda Huang, president and chief executive officer of FDC, said the net proceeds from this issuance will be used to partially finance maturing bonds redemption and capital expenditures to accelerate the growth of businesses.

This includes financing equity investments in renewable energy and water, hospitality and digitalization projects.

Trending

No stories found.

Just in

No stories found.

Branded Content

No stories found.
SunStar Publishing Inc.
www.sunstar.com.ph