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Petron plans $500-M perpetual capital securities

MANILA, Philippines - Petron Corp......»»

Category: financeSource: philstar philstarJan 13th, 2018

Petron plans new securities offering

PETRON Corp., the country’s largest oil refining and marketing company, said on Wednesday that it intended to issue new undated securities to repurchase, refinance, or redeem $750 million in undated subordinated capital securities issued in 2013. In a disclosure to the Philippine Stock Exchange (PSE), it said management had been authorized to pursue the solicitation [...] The post Petron plans new securities offering appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsOct 26th, 2017

SMC capex up to ’22 seen to hit P700B

Conglomerate San Miguel Corp. expects its medium-term capital spending to sum up to P700 billion through 2021 to 2022 with the expansion of traditional and new businesses. In an interview at the sidelines of SMC's recent investors briefing for its P30-billion fresh bond offering, SMC chief finance officer Ferdinand Constantino said that the capital outlays started in 2015-2016, which included the upgrading and modernization of Petron's refinery in Bataan. Since then, Constantino said more expansion plans were underway. Two breweries will be constructed---one in Mindanao and another will rise south of Luzon---each with new capacity of two million hectoliters. He said this would boos...Keep on reading: SMC capex up to ’22 seen to hit P700B.....»»

Category: newsSource:  inquirerRelated NewsFeb 7th, 2018

Petron to raise $500M from offshore securities

PETRON Corp., the largest oil refining and marketing company in the Philippines, is seeking to raise $500 million from the sale of undated unsubordinated capital securities. In a disclosure to the Philippine Stock Exchange (PSE) on Friday, Petron said it had set an issue size of $500 million for the offering of US-dollar denominated senior [...] The post Petron to raise $500M from offshore securities appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 12th, 2018

ICTSI to raise $400-M from perpetual notes issue

LISTED International Container Terminal Services Inc. (ICTSI) announced on Thursday that it was raising $400 million from the issuance of senior perpetual capital securities to fund capital expenditure requirements and acquisitions and for general corporate purposes. The securities are being issued by its subsidiary Royal Capital BV and guaranteed by ICTSI. “We report to you [...] The post ICTSI to raise $400-M from perpetual notes issue appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJan 11th, 2018

ANI raises capital of agri bank, forms fintech firm

  The board of listed AgriNurture Inc. (ANI) said it had approved a plan to infuse P100 million in additional capital into affiliate Agricultural Bank of the Philippines (ABP).   The move, which is subject to the approval of the Securities and Exchange Commission and Bangko Sentral ng Pilipinas, will bring ABP's capital to P200 million.   ANI said ABP's capital hike would fund the expansion of the bank's P2P platform and e-wallet business. Through the capital infusion, ANI aims to enhance supply chain microfinance access of Filipino farmers in remote areas using technology.   ANI president and CEO Antonio Tiu said ABP's P2P platform would allow fa...Keep on reading: ANI raises capital of agri bank, forms fintech firm.....»»

Category: newsSource:  inquirerRelated NewsJun 16th, 2018

ANI hikes capital of affiliate agri bank, forms new agri-fintech firm

The board of directors of listed agri-conglomerate AgriNurture, Inc. (ANI) said it has approved a plan to infuse P100-million to increase the capital of affiliate Agricultural Bank of the Philippines (ABP) to Php200-million, subject to final approval by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). In a disclosure to the Philippine Stock Exchange (PSE), ANI said on Wednesday that ABP's capital hike would fund the expansion of the bank's P2P platform and e-wallet business. Through the capital infusion, ANI aims to enhance supply chain micro-finance access of Filipino farmers in remote areas using technology. ANI president and CEO Antonio...Keep on reading: ANI hikes capital of affiliate agri bank, forms new agri-fintech firm.....»»

Category: newsSource:  inquirerRelated NewsJun 14th, 2018

$1-billion Samurai bond issue eyed in Q3 2018

The Philippine government plans to issue $1 billion worth of Samurai bonds or yen-denominated securities in the third quarter of the year, a top official of the Bureau of the Treasury said yesterday......»»

Category: financeSource:  philstarRelated NewsJun 4th, 2018

Peso touches 12-year low

The Philippine peso hit its lowest level in almost 12 years during intraday trading yesterday as traders braced themselves for the possibility of more capital outflows next month. The local currency declined to as low as P52.60 to the dollar during the morning session after the US Federal Reserve released details from their latest meeting pointing to the possibility of a rate hike in June. Higher interest rates in the world's largest economy make investing in securities more attractive, resulting in investors selling pesos to buy dollars. The peso opened the session weaker at 52.50 and slid to 52.60 --- the lowest since July 2006 --- before recovering slightly to 52.45 to a doll...Keep on reading: Peso touches 12-year low.....»»

Category: newsSource:  inquirerRelated NewsMay 24th, 2018

At 73, Efren Bata Reyes wants to keep going: Hanggang pwede pa, pwede pa

Browse long enough through the Pinoy side of YouTube and you will likely come across dozens, if not hundreds of grainy videos of a man they fondly call 'Bata' attempting, and nailing undescribable shots on the pool table. The term 'pool artist' has been the umbrella term used to refer to billiard players worldwide but Efren 'Bata' Reyes has certainly given justice to the moniker.  And for exactly those types of shots, and his success in formal competition, the Asian Cultural Alliance has bestowed Reyes the Lifetime Achievement Award in Las Vegas, Nevada. The living legend was honored for the most part, because of his overall effect on the sport as one of the most decorated players from Asia, and possibly the world. "We wanted to celebrate Efren [with] the first Asian Culture Achievement Award for him, spreading the joy of pool," said Ken Hsi, head of the organization. While Bata isn't new to hoisting trophies and garnering awards from both local and international tournaments, (he's actually a recipient of the Order of Lakandula award, the highest honor in the Philippines, and is part of the Philippine Legion of Honor) this one was special for the 73-year-old pool artist as it is the first citation he has received in Las Vegas.  Being recognized as an international icon in the entertainment capital of the world is just an achievement fit for a generational talent like Reyes, and he's taking his sweet time in relishing it. "Biro mo... dito pa ko nabigyan ng Lifetime Achievement Award, dito pa sa Las Vegas, hindi doon sa atin," Reyes said. Vivian Villareal, a 15-time women's champion in the pros, had nothing but praise for the Filipino legend.  "Efren is one of a kind. He is The Magician. Nobody can do what he can do," she said. It's the lasting and wide-reaching effect of Bata's game that makes his legend stand out even further. And even after nearly seven decades, retirement still isn't an option for Reyes. "Pwede pa kong maglaro eh," Reyes said. "Ewan ko, baka next year or susunod na year na. Basta [kapag] hindi na kaya ng kamay ko, mag-reretire na ko." "Hanggang pwede pa, pwede pa," Bata added. True to his word, 'Bata' will be in New Orleans, Louisianan to compete at the Buffalo Pro One Classic from May 24-27 and plans to join other internatioinal tournaments this year. There's just no stopping The Magician. With a report from Bev Llorente, ABS-CBN News North American Bureau......»»

Category: sportsSource:  abscbnRelated NewsMay 23rd, 2018

Shorter tenors to fetch lower rates at auctions

SHORTER-DATED government securities on offer this week are seen to fetch lower yields as investors track the movement of US Treasuries while waiting for the next move of the Bangko Sentral ng Pilipinas (BSP). The Bureau of the Treasury (BTr) is offering P15 billion worth of Treasury bills (T-bills) today. Broken down, the Treasury plans […] The post Shorter tenors to fetch lower rates at auctions appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 20th, 2018

DMCI ramps up 2018 capex to P41 billion

Diversified engineering conglomerate DMCI Holdings Inc. is ramping up its capital expenditures this year to P41 billion to support expansion plans across its businesses......»»

Category: financeSource:  philstarRelated NewsMay 16th, 2018

Petron allots P15B for network expansion, refinery upgrade

PETRON CORP. is setting aside this year a capital expenditure of P15 billion to cover its network expansion and refinery improvement, company officials said on Tuesday. Of the amount, P10 billion is for Philippine operations, while the rest is for operations in Malaysia, said Emmanuel E. Eraña, Petron senior vice-president and chief finance officer. “[For […] The post Petron allots P15B for network expansion, refinery upgrade appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 15th, 2018

Petron allots P15 billion for 2018 capex

Petron Corp. is setting aside this year a capital expenditure of P15 billion to cover its network expansion and refinery improvement, company officials said on Tuesday, May 15. Of the amount, P10 billion is for the Philippines while P5 billion for Malaysia, said Emmanuel E. Erana, Petron senior vice-president and chief finance officer. “[For the […] The post Petron allots P15 billion for 2018 capex appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 15th, 2018

LT Group sets aside up to P11B for capex this year

By Arra B. Francia, Reporter LT GROUP, Inc. (LTG) plans to spend P10-11 billion for capital expenditures in 2018, the bulk of which will be allocated for its property unit in a bid to expand its recurring income. The holding company of tycoon Lucio C. Tan, Sr. has allocated P3 billion for Eton Properties Philippines, […] The post LT Group sets aside up to P11B for capex this year appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 8th, 2018

LT Group sets around P11 billion capex for 2018

LT Group, Inc. (LTG) plans to spend P10 billion to P11 billion for capital expenditures in 2018, amid expectations of a better year given the government’s move to address illicit activities in tobacco trade. The holding company of tycoon Lucio C. Tan, Sr. cited the government’s efforts in addressing underground cigarette firms produced locally and […] The post LT Group sets around P11 billion capex for 2018 appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 8th, 2018

East West Bank plans P10B stock rights offer

Gotianun-led East West Bank plans to go back to the local capital market to support balance sheet expansion by the third quarter with an offering of P10 billion worth of shares to existing sharehol.....»»

Category: newsSource:  philippinetimesRelated NewsMay 7th, 2018

Include preferred shares in public ownership reports

AN EXISTING rule supposedly monitored by the Securities and Exchange Commission (SEC) requires listed companies to sell at least 10 percent of its outstanding capital stock to public investors. Whether or not the 10-percent minimum public ownership (10 percent MPO) rule is strictly followed is the question that begs an answer. Should this minimum public [...] The post Include preferred shares in public ownership reports appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 27th, 2018

Metrobank to raise P25B from term deposit offer

Fresh from a P60-billion capital-raising, Ty family-led Metropolitan Bank & Trust Co. plans to raise another P25 billion from a new offering of high-yielding deposits to diversify and lengthen its funding pool. In a disclosure to the Philippine Stock Exchange on Thursday, Metrobank said its board of directors had approved the issuance of new long-term negotiable certificates of deposit (LTNCDs) worth P25 billion. This will be issued in one or more tranches of at least P2 billion per tranche, and tenors of 5.5 years up to 10 years, subject to regulatory approval and market conditions, the disclosure said. The LTNCDs will be listed on the Philippine Dealing & Exchange Corp. ...Keep on reading: Metrobank to raise P25B from term deposit offer.....»»

Category: newsSource:  inquirerRelated NewsApr 26th, 2018

New Metro Manila police slogan: We are pro-poor and pro-weak

MANILA, Philippines – Metro Manila police have a new slogan. "We are pro-poor and pro-weak," announced new National Capital Region Police Office (NCRPO) chief Director Camilo Cascolan in a one-on-one interview with Rappler. (WATCH:  Rappler Talk: Camilo Cascolan on policing Metro Manila ) He was responding to how he plans to win the trust of the region's residents, ........»»

Category: newsSource:  rapplerRelated NewsApr 25th, 2018

SEC flags 14 cryptocurrency investment companies

THE Securities and Exchange Commission (SEC) warned the investing public against 14 online investment scams, including entities riding on the growing popularity of Bitcoin and other cryptocurrencies to lure investors. The country’s corporate regulator advised against investing in the following entities: NewG, Smart Capital, Gener8X, Paid2Prosper, CMT (Coins and Mining Trading), PSO (PSOPOWER Apps), TradeConnect, […] The post SEC flags 14 cryptocurrency investment companies appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 18th, 2018