Orix raises P4B in maiden bond offer

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    Orix Metro Leasing & Finance Corp. has raised P4.16 billion from its maiden bond offering.

    “The offering was met with strong demand having been oversubscribed by more than two times from its initially announced offer size of P2 billion,” the company said.

    “The offer period was set for October 24 to November 6 but was cut short as it was already oversubscribed on day one,” it added.

    The offer is the first tranche under its P10-billion bond program, carrying a tenor of two years and a coupon rate of 4.55 percent per annum.

    The issuer got an Aa+ Issuer credit rating from PhilRatings.

    The bond will be listed with the Philippine Dealing and Exchange by November 15.

    First Metro Investment Corp., the investment banking arm of the Metrobank Group acted as financial advisor to the issuer.

    First Metro and its parent firm Metropolitan Bank & Trust Company both acted as selling agents for the issuance.

    Orix Metro is widely considered as one of the leading and most profitable leasing and finance companies in the Philippines. It has over 100 branches situated in strategic locations around the country and has been in the industry for over 40 years.