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Manila Bulletin devider Business devider The Stock Market devider FDC successfully raises ₱8 billion to refinance obligations, fund growth

FDC successfully raises ₱8 billion to refinance obligations, fund growth

Published Aug 8, 2025 01:14 pm
Filinvest Development Corp., one of the Philippines’ leading diversified conglomerates, successfully raised ₱8 billion from its oversubscribed maiden preferred shares offering. 
“The Series A Preferred Shares and the Series B Preferred Shares were publicly offered from July 21
to July 31, 2025, and received overwhelming support from both institutional and retail investors, signaling strong market confidence in FDC’s long-term growth strategy and financial strength,” the company said in a disclosure to the Philippine Stock Exchange.
As a result, the offer was 1.66 times oversubscribed on the base offer of ₱6 billion, allowing the full exercise of the oversubscription option to raise a total of ₱8 billion.
“Our successful maiden preferred shares issuance marks a historic milestone in our corporate history and demonstrates investor confidence in FDC’s vision and our commitment to sustainable growth,” said FDC President and CEO Rhoda A. Huang. 
She added that, “We are very thankful for the exceptional support that we received from our investors, and we are excited to continue building on our momentum and delivering long-term value to our stakeholders.” 
The Series A Preferred Shares and Series B Preferred Shares carry an initial dividend rate of 6.6253 percent per annum and 7.1087 percent per annum, respectively. 
The proceeds from the Offer will be utilized to refinance existing obligations and support key growth initiatives that are aligned with FDC’s long-term strategy. 
These initiatives are focused on unlocking greater value across the company’s core businesses such as residential real estate, consumer banking, hospitality, and power generation.
The Philippine Rating Services Corporation (PhilRatings) assigned its highest Issuer Credit Rating of PRS Aaa (corp.), with a Stable Outlook, to FDC in relation to the company’s maiden preferred shares offering. 
The PRS Aaa (corp.) rating reflects FDC’s very strong capacity to meet its financial commitments relative to other Philippine corporates.
BPI Capital Corporation acted as the Sole Issue Manager for the Offer, and together with BDO Capital & Investment Corp., China Bank Capital Corp., Land Bank of the Philippines, and Security Bank Capital Investment Corp. were the Joint Lead Underwriters and Bookrunners.

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