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Manila Bulletin devider Business devider The Stock Market devider Toyota's financing arm launches maiden bond offering

Toyota's financing arm launches maiden bond offering

Published Oct 6, 2025 11:06 am
Toyota Financial Services Philippines Corp. (TFSPH), the automotive financing and leasing arm of GT Capital Holdings Inc., is raising ₱2 billion through its maiden bond public offering.
In a disclosure to the Philippine Stock Exchange (PSE), GT Capital said TFSPH will use the proceeds to further diversify its funding sources and support its anticipated asset growth.
“This will also enable the company to tap a wider investor base, targeting both institutional and individual investors,” it added.
TFSPH is 40-percent-owned by GT Capital and 60 percent-owned by Japan-based Toyota Financial Services Corp. (TFSC), which operates in over 37 countries globally.
It supports Toyota sales in the Philippines, in line with Toyota Motor Corp.’s (TMC) global objectives.
The bonds will be issued in up to two series, comprised of two-year bonds due 2027 (series A bonds) and three-year bonds due 2028 (series B bonds). The series A bonds and series B bonds will carry a fixed interest rate of 5.7725 percent and 5.9418 percent, respectively.
First Metro Investment Corp. (FMIC), which is also part of the GT Capital group, and ING Bank N.V., Manila Branch (ING) are joint lead arrangers and bookrunners for the transaction.
They are also selling agents for the bonds offering, together with Metropolitan Bank & Trust Co. (Metrobank) and BPI Capital Corp. (BPI Capital). Offer period will run from Oct. 6 to 13, 2025.
TFSPH received an issuer credit rating of PRS Aaa (corp.), with a stable outlook—the highest credit rating issued by Philippine Rating Services Corp. (PhilRatings).
A PRS Aaa (corp.) recognizes TFSPH’s strong and stable financial condition and underscores its commitment to sound governance and sustainable growth.
According to PhilRatings, the assigned rating and outlook was based on TFSPH’s strong and highly supportive shareholders; solid franchise of the Toyota brand; the company’s good asset quality; and its sustained revenue growth supported by loan portfolio expansion.
In the first three months of fiscal year (FY) 2025, TFSPH booked an 11-percent increase in total revenues to ₱3.9 billion from the same period last year.
The automotive financing company’s total loan receivables likewise expanded nine percent in the first quarter of the FY to ₱159.4 billion, bringing net interest income to ₱1.6 billion.

Related Tags

GT Capital Holdings Inc. Toyota Financial Services Phiippines Corporation
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