Filinvest Development Corp. the holding firm of the Gotianun group, on Tuesday obtained approval from the Securities and Exchange Commission (SEC) to sell P10 billion worth of bonds.
The SEC green lighted FDC’s fixed rate bonds comprising of a base offer of P7 billion with an oversubscription option of up to P3 billion.
The issuance, scheduled for February 7, represents the first tranche of the company’s three-year shelf registration for P32 billion.
Proceeds will partially finance maturing bonds of P7 billion and other capital expenditures of P3 billion.
“The approval of our bonds paves the way for an enticing and stable investment opportunity for investors while funding the company’s expansion,” FDC president and CEO Rhoda A. Huang said.
“We are also pleased that PhilRatings has assigned a PRS Aaa rating to our proposed bond issuance. This rating is reflective of our current financial performance and underscores our commitment to drive growth through our diverse business holdings,” she said.
FDC earlier reported attributable nine-month 2023 net income growing 57 percent to P5.9 billion driven by a 26 percent increase in revenue and other income to P64.6 billion.
