Toyota Financial Services Philippines’ ₱5.0 billion maiden bonds listed on PDEx after oversubscribed offering
Makati City, Philippines — Toyota Financial Services Philippines Corporation (TFSPH), the automotive financing and leasing arm of GT Capital Holdings, Inc. (GT Capital), successfully completed the listing of its ₱5.0 billion fixed-rate bonds on the Philippine Dealing and Exchange Corporation (PDEx). Comprising 2-year Series A and 3-year Series B bonds, the issuance saw exceptional demand at 3.5x the minimum offer size of ₱2.0 billion. This strong market reception prompted TFSPH to exercise the oversubscription option and accelerate the close of the offer period.
Toyota Financial Services Philippines lists ₱5.0 billion Fixed Rate Bonds on PDEx – (From left to right) Philippine Depository & Trust Corporation President and Chief Executive Officer Ma. Theresa Ravalo; BPI Capital Corporation Associate Director John Marvin Q. Blanco; Metropolitan Bank & Trust Company Head of Institutional Sales Ricardo Pedrosa; TFSPH Executive Vice President Keisuke Gotanda; TFSPH Chairman Carmelo Maria Luza Bautista; TFSPH President Rommel J. Ocampo; TFSPH Director and Treasurer Dr. David T. Go; First Metro Investment Corporation President Antonio R. Ocampo, Jr.; Philippine Dealing and Exchange Corp. President Stephani Marie Zulueta; ING Bank Country Manager Jun Palanca
“Our maiden issue in the Philippine capital markets marks a significant milestone in the company’s journey,” said Mr. Rommel J. Ocampo, President of TFSPH. “With over two decades of experience in the Philippine automotive financing industry and the full support of our shareholders – Toyota Financial Services Corporation (TFSC) and GT Capital Holdings, Inc. (GT Capital) – we are delighted by the overwhelming response from investors, which underscores the market’s trust and confidence in our stability and growth prospects. This achievement reinforces our commitment to supporting Toyota customers and dealer partners nationwide and establishes us as an even more competitive leader in the industry.”
The offer, which is the first tranche under its ₱20 billion bond programme, has a tenor of two and three years with a coupon rate of 5.7725% and 5.9418% per annum, respectively. TFSPH received an issuer credit rating of PRS Aaa (Corp.) with a Stable Outlook from PhilRatings.
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).
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About TFSPH
Toyota Financial Services Philippines Corporation, established in 2002, is the exclusive provider of Toyota-branded financial solutions in the Philippines. It offers retail and leasing products to customers, as well as inventory financing to dealers nationwide. TFSPH is 40%-owned by GT Capital Holdings, Inc. 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.
To learn more about TFSPH, visit its official website: https://www.toyotafinancial.ph/.
Contact Person
For questions and other concerns, please contact Toyota Financial Services Philippines’ Treasury Group First Vice President, Mr. Marvin Eugene N. Antonio at marvin.antonio@toyotafinancial.ph.