P8-B share sale backs Filinvest’s growth 

Gotianun Family-led Filinvest Development Corp. (FDC) raised P8 billion from its maiden preferred shares offering, with proceeds set to refinance existing obligations and support the company’s long-term growth plans.

“Our successful maiden preferred shares issuance marks a historic milestone in our corporate history and demonstrates investor confidence in FDC’s vision and our commitment to sustainable growth,” FDC President and CEO Rhoda A. Huang said on Friday. 

“We are very thankful for the exceptional support that we received from our investors, and we are excited to continue building on our momentum and delivering long-term value to our stakeholders,” she added

The preferred shares—traded under the symbols “FDCPA” and “FDCPB”—were listed on the Philippine Stock Exchange on Thursday. 

The offering, which ran from 21 to 31 July, was 1.66 times oversubscribed on the base offer of P6 billion, enabling the full exercise of the P2-billion oversubscription option.

The Series A and B Preferred Shares carry initial dividend rates of 6.6253 percent and 7.1087 percent per annum, respectively. Funds will be used to bolster FDC’s core businesses in real estate, consumer banking, hospitality, and power generation.

The Philippine Rating Services Corp. assigned the offer a PRS Aaa (corp.) credit rating with a Stable Outlook—the highest rating it gives—signaling FDC’s “very strong capacity” to meet financial commitments.

BPI Capital Corp. served as Sole Issue Manager, with BDO Capital, China Bank Capital, Landbank, and Security Bank Capital as Joint Lead Underwriters and Bookrunners.