Filinvest Development Corp. said it looks to raise P10 billion through a bonds sale.
The bonds form part of a larger P32 billion shelf-registered bonds of the conglomerate.
The initial tranche is divided into a firm offer of P7 billion and another P3 billion, covering the oversubscription option.
The bonds have a tenor of 2.5 years, carrying a coupon of 6.3206 percent.
FDC plans to use the proceeds to partially finance the full redemption of its P8.8 billion fixed rate bonds issued on January 24, 2014 with coupon rate of 6.1458 percent.
FDC tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunner for the bonds sale.
