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Treasury raises P60 billion from T-bonds in February
The government raised P60 billion in long-term securities this month, short of target, as the Bureau of the Treasury focused on the retail treasury bonds......»»
Government eyes P30 billion from 30th RTB issue
The government is borrowing at least P30 billion from small creditors as the Marcos administration sets its third offering of retail Treasury bonds (RTBs) to expand state coffers and finance various projects......»»
Filinvest cleared to sell P10 billion fixed bonds
Gotianun-led Filinvest Development Corp. received yesterday its permit to sell up to P10 billion in fixed bonds consisting of a base offer of P7 billion and an oversubscription option of P3 billion......»»
Treasury raises P120 billion from T-bonds
The government raised the entire program of P120 billion in long-term securities this month amid the downtrend in investor asking rates......»»
Government borrows P30 billion from T-bonds
The government secured P30 billion from the local debt market via the fresh issuance of long-term securities, with the coupon rate set slightly higher than secondary markets......»»
BDO to raise P5 billion via sustainability bonds
BDO Unibank Inc. is raising at least P5 billion as it returned to the domestic debt market via the issuance of peso-denominated fixed-rate sustainability bonds......»»
ADB raises $5 billion via dual bonds
The Asian Development Bank has raised $5 billion via a dual bond issuance to bankroll initiatives to promote social and economic development in Asia and the Pacific......»»
Government eyes $5 billion from global bonds
The Philippines plans to borrow $5 billion from the international debt market through various global bond issuances this year amid expectation of easing interest rates......»»
Vista Land raises P6 billion from bond issue
Vista Land & Lifescapes Inc. has successfully raised P6 billion through the issuance of its fixed-rate peso denominated bonds......»»
UnionBank raises P18 billion from bond sale
Union Bank of the Philippines has raised P18.17 billion from the successful dual tranche offering of peso-denominated fixed rate bonds amid strong demand from investors......»»
Treasury raises P100 billion from T-bonds in November
The government raised P100 billion from long-term securities this month amid mixed rates demanded by investors......»»
EDC tapping Asean green bonds anew
Energy Development Corp., the pure renewable energy arm of the Lopez-led First Gen Corp., will tap anew ASEAN green bonds in a bid to raise up to P10 billion to fund the company’s expansion plans......»»
FDC to raise P32 billion from bond offer
Filinvest Development Corp., the listed conglomerate of the Gotianun family, is looking to raise P32 billion from the issuance of fixed rate bonds......»»
Government borrows P20 billion from T-bonds at lower rates
The government borrowed P20 billion in long-term securities after demand surged and investors sought lower rates......»»
Government sells P15 billion in tokenized T-bonds
The government borrowed P15 billion from the local debt market via the issuance of the peso-denominated tokenized Treasury bonds amid strong demand for the maiden offering......»»
BPI lists P36.6 billion bonds today
Ayala-led Bank of the Philippine Islands is set to list today P36.6 billion worth of bonds on the Philippine Dealing & Exchange Corp. more than seven times the original size of P5 billion......»»
Robinsons retail unit posts profit rise
Listed Gokongwei group’s Robinsons Retail Holdings Inc. proved its resilience in the first nine months as it reported a core profit of P3.8 billion, up 4 percent. Net sales during the period were at P138.2 billion, which rose by 8.7 percent year-on-year. The company was able to generate growth in net sales and core net earnings despite the impact of inflation on consumption and a challenging base last year which benefited from economic reopening and election-related spending. Core net earnings exclude foreign exchange gains and losses, interest income from bonds, equity in earnings from associates, interest expense related to the Bank of Philippine Islands acquisition financing, BPI cash dividends, and others. The growth in net sales was supported by blended same store sales growth of five percent and store expansions. The core businesses supermarkets and drugstores were the main revenue growth drivers in the first nine months. These two segments accounted for almost 75 percent of Robinsons Retail’s revenues for the period. Meanwhile, a bright spot in the discretionary portfolio was the department store segment, which was able to deliver double-digit topline growth due to back-to-school and continued out-of-home activities. The company’s consolidated gross profit continued to grow faster than revenues, increasing by 9.4 percent year-on-year to P32.9 billion in the first nine months. This was enabled by improvements in category mix and higher penetration of private label brands. Meanwhile, operating income grew by 3.7 percent year-on-year to P6.1 billion. Net income attributable to equity holders of the parent company fell by 41.4 percent year-on-year to P2.6 billion until September. The decline in net income to parent was weighed by equitized losses from minority startup investments which continue to ramp up, the derecognition of Robinsons Bank’s net income under equitized earnings following the ongoing merger with the Bank of the Philippine Islands, interest expense from the acquisition financing of the BPI shares that were purchased earlier this year, and the absence of cash dividends from BPI in the third quarter of 2023. Dividends set BPI has historically paid dividends in the second and fourth quarters of each year. The expected cash dividends from BPI in the fourth quarter should fully cover for the acquisition related financing interest expense for the purchase of the BPI shares. “Our defensible business model has enabled us to continue growing and remain relevant among Filipino consumers. This is notwithstanding near-term macroeconomic challenges, particularly the impact of inflation on consumer sentiment. These headwinds are temporary, in our view, and we thus remain positive on the long-term potential of the domestic retail industry given the Philippines’ attractive demographics. We will continue to invest with a long-term view and in a sustainable manner — core strategies that we firmly believe will translate to greater stakeholder value,” Robina Gokongwei-Pe, president and CEO of Robinsons Retail Holdings Inc., said. The post Robinsons retail unit posts profit rise appeared first on Daily Tribune......»»
8-month debts increase 50%
The government’s gross borrowings rose in the first eight months, Bureau of the Treasury data showed, surging by 50.48 percent to P1.58 trillion as of the end of August from P1.05 trillion a year earlier. Based on the Treasury’s latest cash operations report, gross domestic borrowings accounted for the bulk of the first eight month’s total at P1.28 trillion. Gross overseas loans, meanwhile, clocked in at P394.56 billion during the period. Gross domestic loans increased from the year earlier from P996.14 billion. Gross overseas borrowings also rose from P337.79 billion previously. Fixed-rate treasury bond issuances worth P904.76 billion made up most of the first eight months of the domestic borrowings. An additional P283.76 billion and P95.84 billion were raised through retail T-bonds and T-bills, respectively. Foreign debts rise Gross external borrowings, meanwhile, increased by 16.80 percent from P337.79 billion in August 2022 to P394.56 billion in August this year. Total borrowings in August alone reached P119.12 billion, an increase from P118.36 billion in August 2022. During the month, borrowings from local lenders slipped by 34 percent to P110.5 billion from P167.81 billion secured in the same period last year. A huge chunk of the gross domestic borrowings, at P117.37 billion, was from fixed-rate Treasury bonds at P110.23 billion. The government borrowed the remaining P7.13 billion from short-term T-bills. In terms of external debt, the Treasury increased its gross borrowings to P6.68 billion from just P1.31 billion from foreign sources last year. The entire external financing for August was made up of project loans from multilateral institutions. The post 8-month debts increase 50% appeared first on Daily Tribune......»»
SEC okays P100-B SMC, Vista Land public offerings
The Securities and Exchange Commission or SEC has approved a total of P100 billion worth of public offerings proposed by Ramon S. Ang’s San Miguel Corp. and Vista Land & Lifescapes Inc. of the Villar Family. Following its 17 October meeting, the Commission En Banc greenlighted the registration statement of SMC covering close to 867 million Series 2 preferred shares. It also approved Vista Land’s registration statement covering fixed-rate bonds to be offered in tranches within three years. The SEC, however, noted that the offerings are still subject to the companies’ compliance with certain remaining requirements. San Miguel and Vista Land completed their registration processes within 33 and 32 days, respectively. Tranches set For the initial tranche, San Miguel will offer 400 million preferred shares at P75 apiece for a total of P30 billion — with an oversubscription option comprising up to 266.6 million preferred shares worth more than P20 billion. San Miguel expects to net as much as P49.62 billion from the initial tranche. The company said it will use the additional funding to repay Philippine peso-dominated short-term loan facilities and previously issued bonds. Likewise, it will help bankroll airport and airport-related projects. Vista Land, on the other hand, said it will initially offer P6 billion worth of fixed-rate bonds — with an oversubscription of up to P4 billion, consisting of Series F bonds due 2026 and Series G bonds due 2028. The offering forms part of the company’s shelf registration of a debt securities program worth P35 billion. The company estimated the expected net proceeds of more than P9.83 billion will be used to refinance maturing obligations and for general corporate purposes. The post SEC okays P100-B SMC, Vista Land public offerings appeared first on Daily Tribune......»»
Government borrows P30 billion T-bonds at higher rates
The government borrowed P30 billion in long-term securities even after investors demanded higher rates......»»