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Filinvest Development Corp., the Gotianun family holding company, said it raised $ 200 million from the sale of bonds abroad. FDC said in a disclosure to the stock exchange that the Reg-S 5-year senior unsecured notes denominated in US dollars for $ 200 million had a yield of 4.25 percent or 25 basis points tighter than the guidance of initial prices. This represents the lowest FDC coupon in the international bond markets. The bond offering also marked FDC’s return to the offshore debt market after seven years. “We are satisfied with the result of the successful issuance which confirms the trust and strength of the name and track record of FDC in the Philippines. This bond issuance will further optimize our capital structure, as well as position us to seek new investments in infrastructure and sustainable solutions such as solar, water and wastewater, ”said FDC President and CEO Josephine Gotianun Yap. The company said that the net proceeds from the fundraising activity would be used to fund capital expenditures on digitization, water, desalination, wastewater and renewable energy projects, the district’s cooling system joint venture and other infrastructure projects. . You will also refinance overdue loans and general corporate purposes. FDC said the bond offering would allow it to diversify funding sources, partially refinance existing debt and provide flexibility to manage its maturity profile. “The issuance allows us to diversify our sources of financing, partially refinance existing debt and gives us flexibility to manage our maturity profile,” said FDC CFO Nelson Bona. “The tremendous market response to our bond offering is beyond what we expected after such a long absence. This overwhelming support only serves to validate FDC’s record of resilience and financial discipline over the years, ”said FDC President Jonathan Gotianun. FDC selected UBS AG Singapore Branch as the sole global coordinator and UBS AG Singapore Branch and Standard Chartered Bank as joint brokers. China Bank Capital, Metropolitan Bank & Trust Company, Philippine National Bank Capital and Union Bank of the Philippines acted as national lead administrators of the transaction. Recently, FDC partnered with global technology leaders such as Engie Services Philippines (Engie) for solar roof systems and district refrigeration services. It also signed a joint venture with Hitachi Aqua-Tech Engineering Pte. Ltd. for the development of desalination, recycling and wastewater treatment services.
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