GT Capital to issue P8-B worth of bonds for corporate funds

To raise money for corporate purposes, GT Capital Holdings lnc. is issuing P8 billion worth of fixed rate bonds, the company said in a statement issued to the Philippine Stock Exchange.

 

“The amount for the issuance is up to P8 billion, with an option to increase by up to P2 billion,” the statement released on Tuesday read.

 

“The bonds will be issued through a public offering at par or 100 percent of face value. It will be issued in scripless form in minimum denominations of P50,000 each and in multiples of P10,000.00 thereafter,” it added.

 

In a scripless transaction, only book entries represent the security holding and settlement, and no physical certificate is issued or exchanged, according to online BusinessDictionary.

 

The company said it filed with the Philippine Securities and Exchange Commission on Monday a registration statement for the proposed bonds. 

 

GT Capital Holdings is the holding and management company of the Ty family's business interests, which include Metrobank, Federal Land Inc., Global Business Holding Inc., Toyota Motor Philippines, and Philippine AXA Life. — VS, GMA News