The Daily Tribune
Toyota Financial Services launches P2 Billion bond offering
Toyota Financial Services Philippines Corp. (TFSPH), a subsidiary of GT Capital Holdings, has launched its first P2-billion bond offering to finance asset growth and broaden its funding sources.
The bond offering includes two series: Series A bonds due 2027 with a 5.7725% interest rate and Series B bonds due 2028 with a 5.9418% interest rate.
The offer period for these bonds will be from October 6 to October 13.
First Metro Investment Corp. and ING Bank N.V. Manila Branch are acting as the joint lead arrangers and bookrunners for this transaction.
TFSPH aims to attract a diverse range of investors, including both institutional and individual clients.
Philippine Rating Services Corp. (PhilRatings) has given TFSPH an issuer credit rating of PRS Aaa, indicating a stable outlook.
During the first quarter of fiscal year 2025, TFSPH experienced an 11% increase in total revenues, reaching P3.9 billion, and a 9% rise in loan receivables to P159.4 billion.
TFSPH is a joint venture, with Toyota Financial Services Corp. of Japan holding a 60% stake and GT Capital holding the remaining 40%.
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