Toyota Financial Services Philippines Corp. (TFSPH), the automotive financing and leasing arm of GT Capital Holdings Inc., is tapping the domestic bond market to raise P2 billion.
GT Capital said TFSPH has launched its P2 billion maiden bond public offering, with the proceeds to be used for further diversifying the automotive financing company’s funding sources and supporting its anticipated asset growth.
The offering will also enable TFSPH to tap a wider investor base targeting both institutional and individual investors.
The bonds will be issued in up to two series, comprised of two-year bonds due 2027 (Series A bonds) and three-year bonds due 2028 (Series B bonds).
The Series A and Series B bonds will carry a fixed interest rate of 5.7725 percent and 5.9418 percent, respectively.
The offer period kicked off yesterday and will end on Oct. 13, 2025.
First Metro Investment Corp., which is also part of the GT Capital group, and ING Bank N.V. Manila Branch will serve as 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 and Trust Co. and BPI Capital Corp.
TFSPH, which is 40 percent owned by GT Capital and 60 percent owned by Japan-based Toyota Financial Services Corp., received an issuer credit rating of PRS Aaa (corp.) with a stable outlook, the highest credit rating issued by the Philippine Rating Services Corp.
A PRS Aaa (corp.) recognizes TFSPH’s strong and stable financial condition and underscores its commitment to sound governance and sustainable growth.
TFSPH supports Toyota sales in the Philippines in line with Toyota Motor Corp.’s global objectives.
The company delivers value to customers by offering reliable financial products and services tailored to their needs.
TFSPH registered an 11-percent jump in total revenues to P3.9 billion in the first three months of fiscal year 2025.
Its total loan receivables likewise accelerated by nine percent in the first quarter of the fiscal year to P159.4 billion, bringing net interest income to P1.6 billion.