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Del Monte to start P7.5 billion bond sale

Del Monte Philippines Inc. will commence the offer period for its P7.5 billion bond sale on Monday......»»

Category: financeSource: philstar philstarOct 17th, 2020

SEC approves local Del Monte’s P7.5-B bond offer

The Securities and Exchange Commission (SEC) has approved the public offering by Del Monte Philippines Inc. (DMPI) of fixed-rate bonds worth up to P7.5 billion. The Commission En Banc resolved to render effective the company’s registration statement for up to P5 billion worth of bonds, with an oversubscription option of up to P2.5 billion, subject to the company’s compliance with certain remaining requirements. DMPI will issue the bonds at face value, consisting of series A bonds due 2023 and series B bonds due 2025. They will be listed and traded on the Philippine Dealing & Exchange Corporation. The company expects to net P7.39 billion from the offer, assuming the oversubscription option is fully exercised. Proceeds from the offer will be used to repay the company’s existing debt, which are short-term and unsecured in nature. The fixed-rate bonds were assigned a PRS Aaa rating by the Philippine Rating Service Corporation. BDO Capital & Investment Corporation, China Bank Capital Corporation, First Metro Investment Corporation, and RCBC Capital Corporation were tapped as joint issue managers, joint lead underwriters, and joint bookrunners for the offer......»»

Category: newsSource:  mb.com.phRelated NewsOct 9th, 2020

SEC OKs P7.5-b maiden bond offer of Del Monte PH

The Securities and Exchange Commission said Thursday it approved the P7.5-billion maiden bond offering of food producer Del Monte Philippines Inc......»»

Category: financeSource:  thestandardRelated NewsOct 9th, 2020

SMIC sets initial P10 billion bond sale

SM Investments Corp., the listed conglomerate of the Sy Group, will issue an initial P10 billion in bonds out of a planned offering of P30 billion over the next three years......»»

Category: newsSource:  philstarRelated NewsAug 26th, 2020

Initial P250 billion raised from RTB

Investors swarmed the government’s ongoing Retail Treasury Bond sale as the total amount of “new money” raised has so far exceeded P250 billion, according to the Bureau of the Treasury......»»

Category: financeSource:  philstarRelated NewsJul 21st, 2020

RLC raises P13.2B from bond sale

    Gokongwei-led property developer Robinsons Land Corp. has raised P13.2 billion from a new offering of local bonds, taking advantage of the slowdown in local interest rates to beef up funds for working capital and future expansion. RLC sold three-year and five-year fixed-rate at a coupon rate of 3.683 percent and 3.8 percent per […] The post RLC raises P13.2B from bond sale appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJul 17th, 2020

SMIC seeks SEC nod to raise P30 billion from bond sale

Conglomerate SM Investments Corp. plans to raise up to P30 billion from the issuance of fixed-rate peso bonds, documents show Wednesday......»»

Category: financeSource:  thestandardRelated NewsJul 15th, 2020

BDO raises P36b from bond sale

BDO Unibank Inc., the country’s largest lender controlled by the Sy family, said Friday it raised P36 billion from the issuance of fixed-rate peso bonds amid the robust demand from individual and institutional investors......»»

Category: financeSource:  thestandardRelated NewsJul 4th, 2020

BPI starts P3B bond sale for MSME

Ayala-led Bank of the Philippine Islands (BPI) on Monday launched its first P3-billion COVID Action Response (CARE) bonds due 2022, also the first in the country to be issued as direct response to the coronavirus disease 2019 pandemic. The peso-denominated social bonds, which carry a coupon rate of 3.05 percent and a tenor of 1.75 […] The post BPI starts P3B bond sale for MSME appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJun 22nd, 2020

BPI begins sale of new peso bonds worth P5 billion

Bank of the Philippine Islands, the third-largest lender in terms of assets, started on Monday its second peso fixed-rate bond offering this year in the aggregate principal amount of up to P5 billion......»»

Category: financeSource:  thestandardRelated NewsMar 2nd, 2020

LT Group plans bond sale

MacroAsia Corp. is considering tapping other firms under Lucio Tan Group (LTG) to help the consortium build the $10-billion Sangley Point International Airport (SPIA) project. This developed in the wake of MacroAsia’s refusal to sell some of its shares to raise funds for the project. “MacroAsia is part of a larger group. So if our […] The post LT Group plans bond sale appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsFeb 23rd, 2020

Louis Vuitton and NBA announce global partnership

PARIS AND NEW YORK, Jan. 22, 2020 – Louis Vuitton and the National Basketball Association (NBA) today announced a multiyear partnership that makes the French fashion house the first official Trophy Travel Case provider of the NBA.  The partnership marks Louis Vuitton’s first and only partnership with a North American sports league. Expertly hand-crafted in Louis Vuitton’s historic Asnières workshop on the outskirts of Paris, the trunk is coated in the House’s emblematic Monogram canvas and fitted with traditional brass fixtures.  The bespoke case will house and display The Larry O’Brien Trophy that is presented annually in June to the NBA team that wins The Finals. “Louis Vuitton and the NBA are both icons and leaders in their respective fields, and the joining of the two promises exciting and surprising moments, forging historic memories together,” said Louis Vuitton Chairman and CEO Michael Burke.  “Louis Vuitton has long been associated with the world’s most coveted trophies, and with this iconic partnership the legacy continues – victory does indeed travel in Louis Vuitton!” “The NBA Finals is defined by iconic players and memorable performances, culminating with the presentation of The Larry O’Brien Trophy,” said NBA Deputy Commissioner and Chief Operating Officer Mark Tatum.  “The tradition, heritage and identity of Louis Vuitton create a natural synergy with the NBA, and this partnership provides a unique and befitting way to showcase our championship trophy to our fans around the world.” The NBA and Louis Vuitton will also work together to co-author compelling stories regarding one of sport’s most symbolic trophies and its unique travel companion.  As part of the expansive partnership with the NBA, Louis Vuitton will create an annual limited-edition capsule collection, with details to be announced at a later date. The announcement was made ahead of The NBA Paris Game 2020 Presented by beIN SPORTS, which will feature the Charlotte Hornets and Milwaukee Bucks playing the first-ever regular-season NBA game in France on Friday, Jan. 24 at the AccorHotels Arena. About the NBA The NBA is a global sports and media business built around four professional sports leagues: the National Basketball Association, the Women’s National Basketball Association, the NBA G League and the NBA 2K League.  The NBA has established a major international presence with games and programming in 215 countries and territories in nearly 50 languages, and merchandise for sale in more than 100,000 stores in 100 countries on six continents.  NBA rosters at the start of the 2019-20 season featured 108 international players from 38 countries and territories.  NBA Digital’s assets include NBA TV, NBA.com, the NBA App and NBA League Pass.  The NBA has created one of the largest social media communities in the world, with 1.6 billion likes and followers globally across all league, team, and player platforms.  Through NBA Cares, the league addresses important social issues by working with internationally recognized youth-serving organizations that support education, youth and family development, and health-related causes. About Louis Vuitton Since 1854, Louis Vuitton has brought unique designs to the world, combining innovation with style, always aiming for the finest quality. Today, the House remains faithful to the spirit of its founder, Louis Vuitton, who invented a genuine “Art of Travel” through luggage, bags and accessories which were as creative as they were elegant and practical.  Since then, audacity has shaped the story of Louis Vuitton. Faithful to its heritage, Louis Vuitton has opened its doors to architects, artists and designers across the years, all the while developing disciplines such as ready-to-wear, shoes, accessories, watches, jewelry and fragrance. These carefully created products are testament to Louis Vuitton’s commitment to fine craftsmanship......»»

Category: sportsSource:  abscbnRelated NewsJan 23rd, 2020

Kansas City Royals being sold in deal expected to fetch $1B

By Dave Skretta, Associated Press KANSAS CITY, Mo. (AP) — David Glass and his family had a very specific set of qualities they were searching for in a potential owner when they decided to put the Kansas City Royals on the market. They wanted an astute and successful businessman, someone with local ties who, perhaps most importantly, had a deep love for baseball. John Sherman fit that description perfectly. So on Friday, the Glass family announced the sale of the two-time World Series champions to an ownership group led by Sherman in a deal expected to be worth about $1 billion. Sherman and his local co-investors will become only the third owners since Ewing Kauffman founded the club in 1969. "The decision to sell the Royals was difficult for our family," said Glass, whose son Dan has served as the Royals' president. "Our goal, which I firmly believe we've achieved, was to have someone local, who truly loved the game of baseball and who would be a great steward for this franchise going forward. In John Sherman we have found everything we were looking for in taking ownership. The 64-year-old Sherman has lived in Kansas City for more than four decades, even after he bought an interest in the Cleveland Indians. He founded, built and then sold a series of energy companies, and he has remained an influential local businessman, dabbling in agriculture and biosciences. Sherman, who played quarterback at nearby Ottawa University, is also a well-respected civic leader, even though he keeps a low profile. He has given time and money to the Truman Presidential Library in nearby Independence, the Negro Leagues Museum in Kansas City, and several local schools. He and his wife, Marny, also work with Teach for America and other programs serving underprivileged youth. "I am enormously grateful to David and the Glass family for this extraordinary opportunity," Sherman said in a statement, "and am humbled by the chance to team up with a distinguished group of local investors to carry forward and build on this rich Kansas City Royals legacy. "Our goal will be threefold: to compete for a championship on behalf of our fans; to honor their passion, their experience and their unwavering commitment; and to carry their hopes and dreams forward in this great Kansas City region we all love for decades to come." Sherman will need to divest his interest in the Cleveland Indians, believed to be about 30 percent of the franchise, and the deal is subject to the approval of Major League Baseball. Those hurdles should be cleared before owners vote on the sale at their meeting Nov. 21. "There's no way that Mr. Glass and the Glass family would entertain selling this team unless they could find what they believe to be the perfect owner who represents everything they stand for, and would go on and represent what baseball means to Kansas City," Royals general manager Dayton Moore said. Sherman was introduced to Dolan by Steve Greenberg, the son of Hall of Famer Hank Greenberg. His financial involvement allowed the Indians to push their payroll over the years, including in 2016, when they acquired All-Star reliever Andrew Miller from the Yankees before the trading deadline. The Indians proceeded to reach the World Series for the first time since 1997. "We're very supportive of John and his group reaching an agreement to acquire ownership of his hometown Kansas City Royals," Indians president Paul Dolan said. "His acquisition of the Royals is good for the game of baseball and I wish him nothing but the best." Before the Indians broke through, the Royals had represented the American League in the previous two Fall Classics, winning their second World Series title when they defeated the New York Mets in 2015. But the back-to-back pennants, and the accompanying rise boom in fan interest, came after a long period of dismal performances that left Glass with a mixed legacy in Kansas City. On one hand, the 83-year-old longtime Wal-Mart executive and his family kept the club in town following Kauffman's death in 1993. Glass helped serve as caretaker of the organization until April 2000, when he purchased sole ownership for $96 million — considered a strong bid at the time. On the other hand, Glass was derided during the Royals' many 100-loss seasons for being unwilling to spend money on payroll, something he rectified in more recent years. Many fans also viewed him as an absentee owner whose family was more committed to northwest Arkansas than Kansas City. "He's one of the most unique people I've ever met," countered Royals manager Ned Yost. "Probably starting in 2012, my whole focus was to win a world championship for him. I didn't have any understanding or inkling what it would mean to win a championship for the city. I found that out later. But I wanted to win a championship for him. Every waking moment was meant with him in mind." Yost said watching Glass raise the World Series trophy at Citi Field in 2015 was "one of the top three highlights of my baseball career, because we had accomplished it for him." Glass has reportedly been in declining health, increasing the urgency to find a new owner. The goal all along was to identify someone with ties to Kansas City who would keep the club in town. "I will never forget the thrill of seeing over 800,000 people of this community come together on one sunny November day to salute the newly crowned world champions. It's been a fantastic ride," Glass said, "and I want to thank our great fans for supporting us through the years. But now it's time for someone else to oversee this franchise into its next championship." The sale comes at an opportune time for other reasons, too. Their local television contract expires after this season, and the Royals are expected to sign a new deal that would double annual rights fees to about $50 million. They also have just 12 years left on their lease at Kauffman Stadium, meaning the push for more renovations or a new ballpark — potentially one in the revitalized downtown area — is expected to begin in the next few years. On the field, the club is in the midst of a massive rebuilding effort while barreling toward another 100-loss season. But the Royals have a bevy of young prospects rapidly rising through the minors, and the front office is hopeful the Royals will contend within the next two years. "I heard he's a former season-ticket holder, so that's nice to have someone who's had some love for this city and wants to do what's best," said outfielder Alex Gordon, the Royals' longest-tenured player and a part of both AL championship teams. "This is a great town with great fans. We haven't been giving them a lot the last few years. Hopefully this is just the start of turning things around." ___ AP Sports Writer Tom Withers and AP freelance writer David Smale contributed to this report......»»

Category: sportsSource:  abscbnRelated NewsAug 31st, 2019

Metrobank raises P11.25 B from bond sale

Ty family-led Metropolitan Bank & Trust Co. raised another P11.25 billion as it tapped the onshore debt market anew via the issuance of two-year peso-denominated bonds......»»

Category: financeSource:  philstarRelated NewsJul 3rd, 2019

PHL raises $363.3M from ‘panda’ bond sale

THE PHILIPPINES raised 2.5 billion renminbi ($363.3 million) from its second sale of so-called “panda” bonds that saw strong demand from investors, the Treasury bureau and the Bank of China, sole underwriter for the exercise, announced in separate statements......»»

Category: financeSource:  bworldonlineRelated NewsMay 16th, 2019

Philippines raises €750 million debt from Euro bond issue

The Philippine government said Friday it managed to raise €750 million (P44 billion) of debt from the sale of eight-year Euro-denominated bonds, which marked the Southeast Asian nation’s return to the European capital markets after more than a decade. .....»»

Category: newsSource:  philstarRelated NewsMay 10th, 2019

Petron readies P20-B preferred share offer

Petron Corp., the country’s biggest oil refiner, is set to start the sale of its P20 billion preferred share offering on May 27......»»

Category: financeSource:  philstarRelated NewsMay 2nd, 2019

Gov’t raises $2 B in 1st bond sale

MANILA, Philippines - The Philippines successfully sold $2 billion in 25-year global bonds at a rate of 3.7 percent, marking the first fund-raising activity.....»»

Category: financeSource:  philstarRelated NewsJan 19th, 2017

PH launches $2-b global bond sale

The Philippines on Wednesday launched a $2-billion global bond sale to help finance the government’s 2017 budget and repay foreign debt......»»

Category: financeSource:  thestandardRelated NewsJan 18th, 2017

Australia’s record A$7.6 billion bond attracts historic offshore demand

Australia's new 30-year bond sale broke a slew of records this week, being the largest in size at A$7.6 billion, attracting the most buyers ever, and boasting the largest-ever order book......»»

Category: newsSource:  mb.com.phRelated NewsOct 13th, 2016

Corporate News: SEC approves Petron bond issue but with conditions

PETRON Corp. will have to meet certain conditions before it could start offering bonds from its P40-billion shelf offering to the investing public......»»

Category: financeSource:  bworldonlineRelated NewsOct 11th, 2016