GT Capital Holdings to raise up to P10-B

Posted at 12/18/12 6:31 PM

MANILA, Philippines - GT Capital Holdings, Inc. is eyeing to raise as much as P10 billion through the issuance of seven- and 10-year bonds, according to the firm's disclosure to the stock exchange.

A registration statement for the proposed issuance of the fixed rate bonds has been filed with the Securities and Exchange Commission, the disclosure read.

"The amount for the issuance is up to P8 billion, with an option to increase by up to P2 billion. Proceeds from the proposed debt issuance will be used for general corporate purposes," the firm said.

GT Capital Holdings has interests in Metropolitan Bank and Trust Co., Philippine AXA Life, Federal Land, Inc., power firm Global Business Holding, Inc., and Toyota Motor Philippines.