San Miguel Corporation and Ayala Corporation have issued separate statements on Monday.
They affirmed that they are raising a total of almost P25 billion in new financing. The two publicly listed Philippine companies aim to settle their past debts.
Besides, they are engaging in fundraising to support their ventures.
San Miguel Corporation’s San Miguel Food and Beverage, Incorporated (SMFB) issued a disclosure to the Philippine Stock Exchange.
It proclaimed that it had secured a regulatory endorsement for a bond float amounting to P14.81 billion or nearly P15 billion.
To regain P15-million worth in outstanding Series 2 perpetual preferred shares, the company will utilize the funds it will get to collect.
The shares cost P1,000 apiece. SMFB would be offering the bond starting Monday, February 24.
The Ramon Ang-led firm relayed that the fixed-rate debt notes are in the denomination of Philippine pesos.
The Series A bonds will mature in five years. They hold an interest rate worth 5.05 percent per annum.
Meanwhile, the Series B bonds of SMFB carry a fixed interest rate worth 5.25 percent per annum.
Philippine daily newspaper The Philippine Star reported that they would mature in seven years.
The end date of the SMFB offer of these bonds is on March 2.
The Philippine Dealing and Exchange Corporation (PDEx) will list the bonds of San Miguel Corporation’s subsidiary.
Traders can find them in denominations worth 10,000.
Meanwhile, Ayala Land, Incorporated (ALI) remarked that its board approved the plan of raising up to P10 billion last week.
To achieve this end, the Ayala Corporation unit will employ retail bonds that the PDEx will also get listed.
ALI relayed that the proceeds from the sale of its debt are for servicing their loans that have matured.
They will also employ the funding to pay for the general needs of the firm partly.
At P22.92 billion, the consolidated net income of SMFB finished flat from last year’s January to December period.
Financial statements demonstrated these figures despite a revenue growth amounting to ten percent.
On Monday, February 24, 2020, San Miguel Corporation (PSE: SMC) closed at P132.40 per share.
This last trade price of the company’s stock showed a decrease of P0.60 or 0.45 percent.
The total turnover value reached P21,793,150.00.
The 52-week high of the San Miguel Corporation is at P195.90, while its 52-week low is P131.00.
Meanwhile, ALI registered a net income totaling to P33.2 billion last year. These numbers show a 13-percent year-on-year increment.
For capital expenditures (CapEx), the company is seeking to earmark more than P100 billion this year.
Local debt will fund up to a fifth of this amount.
Yesterday, Ayala Corporation (PSE: AC) closed at P720.00 per share, down by 30.00 or 4.00 percent.
The total turnover value reached P140,054,405.00. The 52-week high of the Ayala Corporation is at P990.50.
The Philippine Stock Exchange recorded its 52-week low at P695.50.