Manila, Philippines – Fruitas Holdings, Inc., the leading operator of multi-format food and beverage stores, listed on the Philippine Stock Exchange under the symbol FRUIT, successfully completed a maiden private placement of Php200 million corporate notes, arranged by RCBC Capital Corporation, on April 16, 2024.
The notes were issued to Qualified Individual or Institutional Buyers (QIBs) and not more than 19 primary institutional lenders. The proceeds will be used for working capital requirements and general corporate purposes.
The warm reception of the notes issuance, as reflected by the full take-up of the maximum amount set by the Company, speaks volumes about investors’ confidence in House of Fruitas’ promising prospects.
The notes issuance further diversifies House of Fruitas’ financing sources. In the last few years, the Company successfully completed its initial public offering (IPO) and the IPO of its subsidiary, Balai ni Fruitas. It has likewise expanded its list of relationship banks, which have increased their credit lines for the Company and its subsidiaries. This has allowed Fruitas Holdings to firmly establish itself as a leader in food and beverage stores across multiple formats, expand its production capacity, and complete several transformational acquisitions.
“This milestone represents a significant step forward for Fruitas Holdings, signifying our increasing prominence in the market. We express our utmost gratitude to the investors which subscribed to our notes. We will reciprocate this confidence by delivering on our strategic initiatives. This notes issuance provides a new financing source which will empower House of Fruitas to expand its product offerings and access a broader customer base,” stated Mr. Lester Yu, President and Chief Executive Officer, Fruitas Holdings Inc.
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