PHILIPPINES: San Miguel Corporation launches US$2bn notes programme
The company is aiming to raise up to US$2bn
San Miguel Corporation has set up a medium-term note programme in a bid to raise up to US$2bn through bond issuances.
In a filing yesterday (15 April), the Philippine conglomerate, which has a brewing division, said it has been given approval "in principle" from the Singapore Exchange to list any notes. Initial dealers for the programme will be Australia & New Zealand Banking Group, DBS Bank, Deutsche Bank AG, Merrill Lynch and Standard Chartered Bank.
Meanwhile, the company's beer unit, San Miguel Brewery, is due to delist from the Philippine Stock Exchange next month after its shares were suspended for failing to meet the Philippines' minimum public ownership requirement of 10%.
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