Fruitas completes $4m corporate notes placement

Proceeds will support working capital and general corporate needs.

Philippine’s food and beverage retail operator Fruitas Holdings, Inc. has successfully closed a $4m (P200m) corporate notes placement on 16 April, with RCBC Capital Corporation as the facilitator.

The notes were exclusively offered to qualified individual or institutional buyers (QIBs), with not more than 19 primary institutional lenders participating. Proceeds will support working capital and general corporate needs.

The full subscription of the maximum amount indicates strong investor confidence in Fruitas Holdings' growth prospects.

The latest financing initiative further diversifies House of Fruitas' funding avenues, following recent successful IPOs and increased credit lines from relationship banks.

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“This milestone represents a significant step forward for Fruitas Holdings, signifying our increasing prominence in the market,” Lester Yu, president and CEO of Fruitas Holdings Inc., said.

“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,” he added.