Philippines Newsletter - December 2023
- christopherlorenzo5
- Jan 22, 2024
- 1 min read
Market summary
The Energy & Utilities sector accounted for the majority of the deal volume for the month. ACEN was particularly active, taking out 3 loans – USD100m from Mitsubishi UFJ Financial Group, Inc (MUFG) Bank, USD195.5m from Asian Development Bank (ADB) and Bank of the Philippine Islands (BPI), and USD50.3m from HSBC.
Manila Water also announced multiple loan agreements. They signed a USD177.7m loan facility with Metropolitan Bank & Trust Company.
Aggregate Deal Value = USD1,248.6m
This month’s top deals
Energy & Utilities
Vivant unit seals PHP3.5 billion loan with BDO
VIVANT Energy Corp. signed a PHP3.5 billion term loan facility agreement with BDO Unibank, Inc., its parent firm said.
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Manila Water signs PHP10 billion loan for capital spending
MANILA Water Co., Inc. said on Thursday that it had signed a PHP10 billion term loan facility with a local bank to partly fund its capital expenditure projects. In a disclosure to the stock exchange, the east-zone water concessionaire said the 10 year term loan facility was extended by Metropolitan Bank and Trust Co.
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ACEN unit signs USD100 million loan to finance international expansion
ACEN Corp. on Thursday said its subsidiary had signed its first USD100 million green term loan facility with a Japanese banking group to support its overseas expansion. In a stock exchange disclosure, the listed firm said its Singapore-based unit ACEN Renewables International Pte. Ltd. (ACRI) secured the loan from MUFG Bank, Ltd., which is part of global financial institution Mitsubishi UFJ Financial Group.
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ACEN unit signs USD100 million loan to finance international expansion
ACEN raises PHP11 billion from sustainability-linked credit facility
The Ayala group’s listed energy platform ACEN Corp. has obtained another loan this month, this time an PHP11 billion sustainability-linked credit facility with the Asian Development Bank (ADB) and Bank of the Philippine Islands (BPI), to fund the development of its renewable energy projects.
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ACEN raises PHP11 billion from sustainability-linked credit facility
Greenergy eyes up to PHP5 billion loan
LISTED firm Greenergy Holdings, Inc. is set to apply for a loan or credit facility amounting up to PHP5 billion, the company said.
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SPNEC takes full control of Terra Solar for PHP6 billion
SP New Energy Corp. (SPNEC) has acquired the stake held by its partner in Terra Solar Philippines, Inc. for PHP6 billion, giving the listed firm full ownership of the entity that plans to build a massive solar farm.
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Vivant unit taps Metrobank for up to PHP2.75 billion loan
A SUBSIDIARY of listed Vivant Corp. signed a five-year term loan facility agreement with Metropolitan Bank & Trust Co., securing additional funding for its power generation projects.
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Alternergy prepares up to PHP4 billion offering
ALTERNERGY Holdings Corp. is set to apply for the issuance of green corporate notes amounting to up to PHP4 billion as part of the listed energy company’s capital-raising activities to support its renewable power projects.
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ACEN unit signs green loan to expand RE in Australia
Ayala-led ACEN Corp., through its subsidiary, sealed a green term loan worth 75 million Australian dollars with Hongkong and Shanghai Banking Corp. Ltd. for its renewables expansion in Australia.
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ACEN acquires two firms under Yoma Micro Power
AYALA-LED ACEN Corp., through its subsidiary, took over two companies under Yoma Micro Power Pte. Ltd. to provide solar power to telecommunication towers as well as commercial and industrial sectors.
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Manila Water inks PHP7 billion deal with Landbank for expansion
Manila Water Co. (MWC) signed a 10 year term loan facility with Land Bank of the Philippines (Landbank) amounting to PHP7 billion.
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Manila Water inks PHP7 billion deal with Landbank for expansion
Real estate
Vista Land raises PHP6 billion from bond issue
Vista Land & Lifescapes Inc. (Vista Land) has successfully raised PHP6 billion through the issuance of its fixed-rate peso denominated bonds. The bonds, issued yesterday, consist of Series F 2026 bonds with an interest rate of 7.5426 percent per annum and Series G 2028 bonds with an interest rate of 7.6886 percent per annum.
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D.M. Wenceslao takes majority stake in Bay Resources for PHP232 million
LISTED D.M. Wenceslao & Associates, Inc. (DMW) subscribed to P232.17-million worth of shares in Bay Resources and Development Corp., providing fresh capital and securing a majority stake in the latter.
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D.M. Wenceslao takes majority stake in Bay Resources for P232M
Industrials & Manufacturing
MPAV finalizes deal to own 34.76% stake in Axelum
METRO PACIFIC Agro Ventures (MPAV), a subsidiary of Metro Pacific Investments Corp. (MPIC), has finalized a deal to acquire a 34.76% stake in Axelum Resources Corp., a food manufacturing company that exports coconut products, with some payments contingent on achieving specific financial goals.
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Consumer and Retail
Cosco plans to acquire 60% stake in Catuiran Hydropower
RETAIL holding company Cosco Capital, Inc. has announced plans to acquire 60% of the outstanding shares in Catuiran Hydropower Corp., operator of the eight-megawatt hydroelectric plant in Naujan, Oriental Mindoro.
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Transportation & Logistics
AirAsia parent considers IPO of Philippine operations
AirAsia parent Capital A CAPI.KL said on Thursday it was exploring financing options for its Indonesian and Philippine operations, including a potential initial public offering (IPO) for AirAsia Philippines in the near term.
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Tollway operator inks PHP10 billion loan deal with BPI
NLEX Corp. said it had signed a P10-billion term loan facility with Bank of the Philippine Islands (BPI) to fund ongoing and future projects. The operator of the North Luzon Expressway and the Subic-Clark-Tarlac Expressway said the loan would also be used to refinance maturing debt.
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Healthcare
Ayala unit invests in North Luzon-based pharma firm St. Joseph Drug
AYALA CORP., through its unit Ayala Healthcare Holdings, Inc. (AC Health), has acquired a minority stake in pharmaceutical company St. Joseph Drug, the listed company announced.
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Ayala unit invests in North Luzon-based pharma firm St. Joseph Drug
Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Philippine entity and/or business. Rumored, announced, or planned deals not included. Cross-posted deals are also adjusted to avoid double count.
*USD 1.00 = PHP56.27 as of 1/10/2024
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