FILINVEST Development Corp. (FDC) has submitted its registration statement with the Securities and Exchange Commission (SEC) for its planned offer of up to P15-billion fixed-rate bonds.

In an e-mail to reporters yesterday, the country’s corporate regulator said it received the filing for the bonds from the Gotianun-led firm on Jan. 20. The offer is composed of direct, unconditional, unsecured and unsubordinated peso-denominated obligations of up to P8 billion, with an oversubscription option of up to P7 billion.

It will be issued in two tranches, with five-year bonds due 2025 and seven-year bonds due 2027. The issuance will be made in scripless form and in minimum denominations of P50,000 each and in integral multiples of P10,000 thereafter. It will be traded in denominations of P10,000 in the secondary market.

FDC said the proceeds to be generated from the offer will be used to refinance its maturing obligations in 2020 and support other general corporate needs.

BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp. and First Metro Investment Corp. are the joint lead underwriters and bookrunners for the issuance.

FDC is the holding firm of the Gotianun family listed at the Philippine Stock Exchange. It controls Filinvest Land, Inc.; East West Banking Corp.; Filinvest Hospitality Corp.; FDC Utilities, Inc. and Pacific Sugar Holdings Corp., among others. — Denise A. Valdez