GT Capital’s auto financing arm eyes P2 B maiden bond offering

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.

- RICHMOND MERCURIO

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).