Toyota Financial Services Philippines Corp has kicked off its $34-million maiden bond offer, while Blackstone and Lunate have launched a $5-billion logistics platform.
PH’s Toyota Financial launches $34b bond issue
Toyota Financial Services Philippines Corp (TFSPH), the auto financing and leasing arm of GT Capital Holdings, launched a 2 billion peso ($34 million) maiden bond offer to diversify funding sources and support asset growth.
The offer comprises up to two series: two-year bonds due 2027 at a fixed rate of 5.7725% and three-year bonds due 2028 at 5.9418%, according to an announcement. The bonds are unsecured and target institutional and retail investors.
First Metro Investment and ING Bank N.V. Manila branch are joint lead arrangers and bookrunners. They are selling agents alongside Metropolitan Bank & Trust Co and BPI Capital.
TFSPH is 60% owned by Japan’s Toyota Financial Services Corp and 40% by GT Capital. The company provides financing to support Toyota vehicle sales in the Philippines.
In the first quarter of fiscal 2025, TFSPH’s total revenues rose 11% year on year to 3.9 billion pesos, while loan receivables grew 9% to 159.4 billion pesos, lifting net interest income to 1.6 billion pesos.
Blackstone, Lunate launch $5b GCC logistics platform
Private equity major Blackstone and Abu Dhabi-based alternative investment manager Lunate have announced a partnership that will invest in logistics real estate across the Gulf Cooperation Council.
The partnership creates Gulf Logistics Infrastructure Development Enterprise (GLIDE), which targets $5 billion of Grade A warehouse assets, per the announcement.
Blackstone, the largest owner of logistics properties globally with more than 1.2 billion square feet, and Lunate, which manages over $110 billion, said the venture will develop, acquire, and manage modern facilities across key GCC markets.
GLIDE expects additional regional partners and will field dedicated teams to support expansion.
The firms aim to capture rising demand for high-specification logistics amid economic diversification, faster e-commerce adoption, and growing manufacturing in the Gulf.
