Megaworld Corp. will list its P5-billion fixed rate bonds in Philippine Dealing and Exchange Corp. beginning Nov. 25.
“The listing of the bonds will widen the reach of price discovery and transparency for the issue and enable participation in the issue across all markets in PDEX,” Megaworld said in a disclosure to Philippine Stock Exchange.
The bonds carry an interest rate of 8.46 per annum and will mature on 2015.
Megaworld said trading and settlement of the bonds would be in accordance with exchange rules, trading conventions and trading and settlement guidelines for the bonds.
Meanwhile, JG Summit Holdings Inc., the holding company of the Gokongwei family, said it had successfully raised P9 billion from the company’s maiden peso bond offering.
JG Summit said in a disclosure to the stock exchange that the domestic bond issue generated strong demand from retail and institutional buyers.
JG Summit raised the bond issue to P9 billion from the original issue of P5 billion, slightly lower than the P10-billion maximum bond issuance approved by the Securities and Exchange Commission.
“The strong investor demand for our retail bond once more validated the local market’s confidence in the JG Summit Group,” said James Go, JG Summit chairman and chief executive.
The five-year and one-day fixed rate bonds were priced tightly at 8.25 percent per annum, despite a number of competing corporate issuances in the market.
JG Summit is one of the largest and most diverse conglomerates in the Philippines. It is a holding company for a group of companies that includes Universal Robina Corp. (branded consumer foods, agro-industrial and commodity food products), Robinsons Land Corp. (property development and hotel management), Digital Telecommunications Philippines Inc. (telecommunications), Cebu Air Inc. (air transportation), JG Summit Petrochemicals Corp. (petrochemicals) and Robinsons Savings Bank (banking and financial services).
