The Securities and Exchange Commission (SEC) greenlighted the P32-billion bond registration of Filinvest Development Corp. (FDC) and P1.17-billion public offering of Dagupan Electric Corp., proceeds of which are earmarked for expansion plans and other corporate spending.On Thursday, the regulator issued the approval of the public offerings of both companies.

The Gotianun-led company will offer peso-denominated bonds in tranches within a period of three years. The first tranche will have an offer size of P7 billion, with an oversubscription option of up to P3 billion.FDC can rake in P9.87 billion from the first offering should it fully exercise the oversubscription option.

Issuance period is from Jan. 25 to 31, 2024. The bonds will be listed on the Philippine Dealing and Exchange Corp. by Feb. 7, 2024.

“Proceeds will be used to partially finance the redemption of its maturing bonds and capital expenditures, as well as for general corporate purposes,” the regulator noted.

The joint lead underwriters and bookrunners for the transaction are BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Bank, First Metro, Land Bank of the Philippines, RCBC Capital Corp. and SB Capital Investment Corp. —Tyrone Jasper C. Piad INQ