Filinvest Development Corporation Spurs Growth Plans with 4.5X Oversubscribed Bonds

The initial tranche of the P32 billion fixed-rate bonds issued by Filinvest Development Corporation (FDC) has been listed on the Philippine Dealing & Exchange Corp. (PDEx). The P7 billion base offer for the bonds included a P3.0 billion oversubscription option. The bonds, which had a 2.5-year maturity date and an interest rate of 6.3206% annually, attracted a lot of interest from investors, with subscriptions more than fourfold the initial offer.

​“We saw the success of the unwavering efforts of the Joint Lead Underwriters and Bookrunners with the offer achieving total bids of PHP31.5 billion, or 4.5 times oversubscription over the base issuance of PHP7 billion. FDC is committed to living up to the trust the investing community has placed in us,” shared Rhoda A. Huang, President and CEO of FDC.

“The net proceeds from this issuance will be used to partially finance our maturing bonds redemption and capital expenditures to accelerate the growth of our businesses. This includes financing our equity investments in renewable energy and water, hospitality, and digitalization projects,” she added.
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With Filinvest Land Inc. and Filinvest Alabang Inc. handling real estate development and leasing, EastWest Bank handling banking and financial services, Filinvest Hospitality Corp. handling hotel and resort development and management, FDC Utilities Inc. handling power generation, and Pacific Sugar Holdings Corp. handling agriculture, FDC currently maintains strategic holdings in these important industries.

On February 7, 2024, a bell-ringing event was held at the PDEx to commemorate Filinvest's bond issuance. Rhoda A. Huang, President and CEO, Jonathan T. Gotianun, and Ysmael V. Baysa, COO, headed the Filinvest Group. President and CEO Antonino Nakpil of PDEx oversaw the organization, while Chairman Emilio Aquino of the Securities and Exchange Commission (SEC) represented the organization.

The Filinvest Group was equally commended by the SEC for making a ten-year comeback to the local debt capital market. Within a span of 28 days, the SEC expeditiously handled FDC's application, demonstrating a proactive stance towards enabling issuers to participate in the bond market.

​Filinvest Development Corp. (FDC) is one of the leading and diversified conglomerates in the Philippines. Through its diverse businesses, FDC has established a strong reputation as a dependable partner in economic development.