Filinvest Development Corporation (FDC), the investment arm of the Gotianun Group, is planning to raise up to P32 billion through the issuance of peso-denominated fixed rate bonds in one or more tranches.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said it has filed online via email a Registration Statement with the Securities and Exchange Commission (SEC) for the planned offering and sale to the public of its bonds.
FDC has also applied with the SEC the offer and issuance of up to P10 billion fixed-rate bonds as the first tranche of the Bond Program with an aggregate principal amount of up to P7 billion and an oversubscription option of up to P3 billion.
Each tranche of the Bond Program will be rated by Philippine Rating Services Corporation (PhilRatings). Such ratings are not recommendations to buy, sell or hold the securities and may be subject to revision, suspension or withdrawal at any time by PhilRatings.
BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, East West Banking Corporation, First Metro Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation have been appointed as the joint lead underwriters and bookrunners for the Offer.
The bonds shall be offered to the public at face value through the Joint Lead Underwriters and Bookrunners with the Philippine Depository & Trust Corp. as the Registrar of the Offer Bonds.
It is intended that the Offer Bonds shall be issued in scripless form, with PDTC maintaining the Registry of Bondholders, and listed on the Philippine Dealing & Exchange Corp. (PDEx).
The Offer Bonds shall be issued in minimum denominations of P50,000 each, and in integral multiples of P10,000 thereafter. The Offer Bonds shall be traded in denominations of P10,000 in the secondary market.
Within three years following the effective date of the Registration Statement covering the Bond Program, the Company may, at its sole discretion, offer any or all of the remaining balance of the aggregate principal amount of the Bonds covered by such Registration Statement, in one or more subsequent tranches under Rule 8.1.2 of the Implementing Rules and Regulations of the Securities Regulation Code.