Toyota Financial Services Philippines Launches P2 Billion Maiden Bond Offer

Toyota Financial Services Philippines Corporation (TFSPH), the automotive financing and leasing arm of GT Capital Holdings, Inc. (GT Capital), launched its P2 billion maiden bond public offering (the “Bonds”). The Bonds will be issued in up to two series comprised of two (2)-year bonds due 2027 (“Series A Bonds”) and three (3)-year bonds due 2028 (“Series B Bonds”). The Series A Bonds and Series B Bonds will carry a fixed interest rate of 5.7725% & 5.9418%, respectively

TFSPH will use the proceeds to further diversify its funding sources and support its anticipated asset growth. This will also enable the company to tap a wider investor base targeting both institutional and individual investors. 

First Metro Investment Corporation (First Metro), which is also part of the GT Capital group, and ING Bank N.V. Manila Branch (ING) are the joint lead arrangers and bookrunners for the transaction. They are also the selling agents for the offering of the Bonds together with Metropolitan Bank & Trust Company (Metrobank) and BPI Capital Corporation (BPI Capital). Offer period will run from October 06 to October 13, 2025.

TFSPH received an issuer credit rating of PRS Aaa (corp.) with a stable outlook – the highest credit rating issued by the Philippine Rating Services Corporation (PhilRatings). A PRS Aaa (corp.) recognizes TFSPH’s strong and stable financial condition and underscores its commitment to sound governance and sustainable growth.

According to PhilRatings, the assigned rating and outlook for TFSPH was based on “(1) TFSPH’s strong and highly supportive shareholders; (2) the solid franchise of the Toyota brand; (3) the company’s good asset quality; and (4) its sustained revenue growth supported by loan portfolio expansion.”

In the first three months of fiscal year 2025, TFSPH booked an 11% increase in total revenues to P3.9 billion from the same period last year. The automotive financing company’s total loan receivables likewise expanded 9% in the first quarter of the fiscal year to P159.4 billion, bringing net interest income to P1.6 billion.

TFSPH is 40% owned by GT Capital and 60%-owned by Japan-based Toyota Financial Services Corporation (TFSC), which operates in over 37 countries globally. TFSPH supports Toyota sales in the Philippines in line with Toyota Motor Corporation’s global objectives. TFSPH delivers value to customers by offering reliable financial products and services tailored to their needs.

​GT Capital is a major listed Philippine conglomerate with interests in market-leading businesses across banking, automotive assembly, importation, dealership, and financing, property development, life and general insurance, and infrastructure. Its core operating companies are Metropolitan Bank & Trust Company, Toyota Motor Philippines Corporation, Federal Land, Inc., AXA Philippines Life and General Insurance Corporation (AXA Philippines), and Metro Pacific Investments Corporation (MPIC).