Fruitas Holdings Inc., a listed operator of multi-format food and beverage stores, has successfully completed a maiden private placement of corporate notes that raised P200 million for working capital and other corporate purposes.
The borrowing was arranged by RCBC Capital Corp.
The warm market reception to the debt issue allowed Fruitas Holdings to raise the maximum amount and diversify its financing sources.
The company successfully completed in recent years the initial public offering of its subsidiary, Balai ni Fruitas. It has likewise expanded its credit line and those of its subsidiaries, and bankrolled their expansion, acquisition, and product diversification.
The notes were issued to qualified individual or institutional buyers and not more than 19 primary institutional lenders that exempt the securities from registration required under the Securities Regulation Code.
“This milestone represents a significant step forward for Fruitas Holdings, signifying our increasing prominence in the market.,” said Lester Yu, president and chief executive officer of Fruitas Holdings. “This notes issuance provides a new financing source which will empower House of Fruitas to expand its product offerings and access a broader customer base,” he added.
