Filinvest Development Corp. (FDC) has listed the first tranche of its P32-billion fixed rate bonds on the Philippine Dealing & Exchange Corp (PDEx).
The bond issuance consisted of a base offer of P7 billion, with an option for oversubscription of up to P3 billion.
At an interest rate of 6.3206 percent per annum and a maturity period of 2.5 years, the bonds garnered significant interest from investors, with subscriptions exceeding the base offer by more than four-fold.
The offer achieved total bids of P31.5 billion, or 4.5 times oversubscription over the base issuance of P7 billion. Rhoda Huang, president and chief executive officer of FDC, said the net proceeds from this issuance will be used to partially finance maturing bonds redemption and capital expenditures.
“This includes financing our equity investments in renewable energy and water, hospitality, and digitalization projects,” Huang said.
