First Gen nears deal to acquire BG’s stake

First Gen Corp. expects to conclude the negotiation with foreign firm BG Group for the full ownership of the 1,500-megawatt Sta. Rita and San Lorenzo natural gas-fired power plants within the year. First Gen Corp. listed its Series G Preferred Shares on the Philippine Stock Exchange after the successful conclusion of its P10-billion preferred shares […]

Bank says PH needs more investment-friendly policies

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Standard Chartered Bank said the Philippines had to implement more policies that would make it easier for firms to invest in infrastructure and other big-ticket projects. The international financial services firm said the Philippine banking sector was awash in cash and there was desire among industry players to lend much more. However, it said, credit […]

Ayala Corp Prices Maiden 15-Year, PHP10 Billion Bond At 6.875%

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MANILA –  Ayala Corp. (AC.PH) priced on Friday its maiden 15-year fixed-rate bond at 6.875%. The diversified Philippine investment holding firm is looking to raise PHP10 billion ($236 million) from the bond offer, which will start Monday. The bonds will be issued on May 7. Ayala Corp. said it is raising funds to repay debt […]

Ayala raising funds via 15-year bond offering

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Conglomerate Ayala Corp. launched on Friday its public offering of 15-year bonds that were priced to yield 6.875 percent a year. It is the first corporate bond issue of this tenor in the domestic capital market. Ayala hopes to raise P10 billion from the bond offering, which will fall due in 2027,  as it seeks […]

SMDC to borrow P4B in fixed-rate notes

SM Development Corp. (SMDC), the listed residential condominium builder of billionaire Henry Sy, plans to borrow up to P4 billion, with an oversubscription option, in fixed-rate corporate notes. In a filing to the Philippine Stock Exchange on Thursday, SMDC said it tapped Sy-led BDO Capital and Investment Corp. and Standard Chartered Bank as the joint […]

SMDC to raise P4B from sale of debt papers

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MANILA, Philippines—Fast-growing residential property developer SM Development Corp. is raising P4 billion for fresh expansion plans from the sale of debt papers to selected institutional investors. In a disclosure to the Philippine Stock Exchange on Thursday, the SMDC said its board had approved the issuance of fixed rate corporate notes and appointed BDO Capital and […]

SMB board approves interest rates for P20 billion bonds

San Miguel Brewery Inc. (SMB), a subsidiary of diversified conglomerate San Miguel Corp., said its board approved the interest rates for its P20-billion multi-tranche bond sale targeted by the end of this month. In a filing to the Philippine Stock Exchange on Wednesday, SMB set the interest rate for its five-year bonds at 6.05 percent […]