Toyota Financial Services Philippines Corporation (TFSPH), the automotive financing and leasing arm of GT Capital Holdings, Inc. (GT Capital), has officially launched its Php2 billion maiden bond public offering.
The bonds will be issued in two series: Series A Bonds, which are two-year bonds due 2027 with a fixed interest rate of 5.7725%, and Series B Bonds, which are three-year bonds due 2028 with a fixed interest rate of 5.9418%.
The proceeds from the bond offering will be utilized to diversify TFSPH’s funding sources and support its anticipated asset growth.
This initiative will also enable the company to reach a broader investor base, targeting both institutional and individual investors.
First Metro Investment Corporation (First Metro), part of the GT Capital group, and ING Bank N.V. Manila Branch (ING) are serving as joint lead arrangers and bookrunners for the transaction.
They are joined by Metropolitan Bank & Trust Company (Metrobank) and BPI Capital Corporation (BPI Capital) as selling agents.
The offer period runs from October 6 to October 13, 2025.
TFSPH has received an issuer credit rating of PRS Aaa (corp.) with a stable outlook from the Philippine Rating Services Corporation (PhilRatings).
This is the highest credit rating issued by PhilRatings, reflecting TFSPH’s strong financial condition, sound governance, and commitment to sustainable growth.
The rating is supported by TFSPH’s strong shareholders, the solid franchise of the Toyota brand, good asset quality, and sustained revenue growth driven by loan portfolio expansion.
In the first quarter of fiscal year 2025, TFSPH recorded an 11% increase in total revenues to Php3.9 billion compared to the same period last year.
Loan receivables expanded by 9% to Php159.4 billion, resulting in a net interest income of Php1.6 billion.
TFSPH is 40% owned by GT Capital and 60% owned by Japan-based Toyota Financial Services Corporation (TFSC), which operates in over 37 countries globally.
TFSPH supports Toyota sales in the Philippines, aligning with Toyota Motor Corporation’s global objectives.
The company delivers value to customers by offering reliable financial products and services tailored to their needs.
The bonds are considered exempt securities under Section 9.1.2.1 of the 2015 Implementing Rules of the Securities Regulation Code.
As such, they are exempt from registration requirements, provided they are issued by a financial institution licensed by the Bangko Sentral ng Pilipinas (BSP) to engage in banking or quasi-banking activities.
