Financing company Asialink Finance Corp. has raised P2 billion through the issuance of fixed-rate three-year corporate notes, its first try to tap the capital market.
Asialink intends to utilize the proceeds from the notes issuance to support and finance the expansion of its loan portfolio, to refinance existing short-term debt obligations, and for general working capital requirements.
Asialink offers collateral and non-collateral credit loans to businesses, particularly micro, small and medium-size enterprises (MSME), and individuals through its 86 branches nationwide.
Asialink tapped SB Capital Investment Corp. and RCBC Capital Corp. as the issuance’s arrangers.
In a statement, SB Capital said parent company Security Bank led the list of participating noteholder banks for the transaction, which also included Rizal Commercial Banking Corp., EastWest Bank, Philippine Bank of Communications and Union Bank of the Philippines.
The corporate notes had its initial drawdown date last August 25, 2023. – Ruelle Castro
