P17B San Miguel Brewery bonds get PDEx listing approval

San Miguel Brewery Inc. on Thursday said the Philippine Dealing and Exchange Corp. (PDEx) approved P17 billion worth of bonds for trading.

 

In a letter to the Philippine Stock Exchange, San Miguel said the Series E Bonds amounting to P10 billion and Series F Bonds worth P7 billion have been approved for listing on PDEx starting April 2, 2012.

 

The Series E Bonds will expire in 2019 and the Series F Bonds in 2022.

 

“The Series E Bonds and Series F Bonds form part of the P20 billion fixed rate bonds registered with the Securities and Exchange Commission as disclosed in the Company’s SEC Form 17-c dated March 16, 2012,” San Miguel said.

 

Earlier, the company said that bulk of proceeds—worth P13.6 billion—from its bonds will be used to redeem its fixed rate bonds maturing on April 3 and prepay its $-million loan.  —With Rouchelle Dinglasan