Filinvest Development Corp. (FDC) said it looks to raise P15 billion through the issuance of bonds with tenors of five and seven years.
The company said the bonds will be issued in an initial P8 billion and an oversubscription of P7 billion.
The offer will be handled by BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp. and First Metro Investments Corp. as joint lead underwriters.
The bonds will be paid quarterly, the coupon of which is yet to be finalized, and can be redeemed starting on the third year of its maturity for the five-year bonds and starting on the fourth year of maturity for the seven-year bonds.
The proceeds of the bonds will be used to refinance maturing debts this year, the company said.
FDC said it will list the bonds with the Philippine Dealing and Exchange Corp.
The Gotianun family-led FDC earlier reported profits of P9 billion in the first nine months of 2019, up 16 percent from P7.7 billion the year before. Revenues grew 16.6 percent to P55.26 billion.
