TOYOTA FINANCIAL Services Philippines Corp. (TFSPH), the automotive financing and leasing arm of listed GT Capital Holdings, Inc., ended the offer period for its P2-billion maiden bond issuance on Oct. 7, earlier than scheduled, citing strong investor demand.
“Originally set to run from Oct. 6 to 13, 2025, the offer period was cut short and closed on the second day due to strong investor demand from both institutional and retail clients, reflecting the market’s confidence in the company,” it said in a statement on Tuesday.
The issue and listing date for the bond offer is set for Oct. 21.
On Monday, GT Capital said the P2-billion bond offering would be issued in up to two series: two-year Series A Bonds due 2027 at a fixed rate of 5.7725% and three-year Series B Bonds due 2028 at 5.9418%.
Proceeds will be used to further diversify TFSPH’s funding sources and support its projected asset growth. The issuance will also enable the company to expand its investor base.
First Metro Investment Corp. and ING Bank N.V. Manila Branch served as joint lead arrangers and bookrunners. Both firms, along with Metropolitan Bank & Trust Co. and BPI Capital Corp., acted as selling agents.
TFSPH was assigned an issuer credit rating of PRS Aaa by the Philippine Rating Services Corp. (PhilRatings), with a stable outlook, citing strong shareholders, the Toyota brand’s solid franchise, good asset quality, and sustained revenue growth.
Established in 2022, TFSPH is the exclusive provider of Toyota-branded financial solutions in the Philippines. Japan-based Toyota Financial Services Corp. owns 60% of TFSPH, while the remaining 40% is held by GT Capital.
GT Capital operates businesses across banking, automotive assembly, importation and dealership, property development, life and general insurance, and infrastructure.
The company reported a 39% increase in second-quarter attributable net income to P9.28 billion from P6.67 billion in the same period last year.
At the local bourse on Tuesday, GT Capital shares rose by 1.81% or P10.50 to close at P590 apiece. — Beatriz Marie D. Cruz
