San Miguel Corp., the largest food and beverage group in South-East Asia, is seeking a US$1.2bn loan to refinance existing debt.

The Philippines-based conglomerate gave no other details of its plans in a statement issued to the country's stock market this morning (8 August).

San Miguel, which has leading domestic positions across a range of food and drink sectors, is also looking to invest at least $750m in power, mining, infrastructure and property to boost growth.

Last month, shareholders in San Miguel approved the company's plan to spin off its domestic beer unit.