Toyota Financial Services Philippines Corporation., the auto financing arm of GT Capital Holdings Inc., successfully listed P5 billion worth of fixed-rate bonds on the Philippine Dealing and Exchange Corporation (PDEx), marking its maiden issuance in the local debt market.
The offering, composed of 2-year Series A and 3-year Series B bonds, received overwhelming investor demand—3.5 times the minimum offer size of P2 billion—prompting Toyota Financial to fully exercise its oversubscription option and close the offer period early.
“This is a significant milestone in our journey,” said Toyota Financial President Rommel J. Ocampo. “The strong market response reflects investor confidence in our stability, growth prospects, and our two-decade track record in the Philippine automotive financing industry.”
The bond offering is the first tranche under P20 billion shelf registration program of Toyota Financial. Series A bonds carry a coupon rate of 5.7725 percent per annum, while Series B bonds offer 5.9418 percent.
Toyota Financial secured a top-tier credit rating of PRS Aaa (Corp.) with a Stable Outlook from Philippine Rating Services Corporation (PhilRatings), reflecting its strong capacity to meet financial obligations.
Proceeds from the issuance will be used to fund the company’s loan portfolio and general corporate purposes, reinforcing its support for Toyota customers and dealer networks nationwide.
First Metro Investment Corp. and ING Bank N.V. Manila Branch acted as joint lead arrangers and bookrunners, while Metropolitan Bank & Trust Co. and BPI Capital Corp, joined them as selling agents.
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