Market summary
The Real Estate sector saw movement from the fundraising of Filinvest worth USD177.9m from the first tranche of its three-year bond program. Century Properties Group also completed its USD35.6m preferred shares follow-on offering.
The Mining industry also gained traction with Philex Mining Corp securing a USD70m loan for its operations in Surigao del Norte. OceanaGold Corp. also announced its IPO targeting a listing in May.
Aggregate Deal Value = USD455.3m
This month’s top deals
Energy & Utilities
AYALA-LED ACEN Corp. said that it has borrowed approximately AUD75 million, or around PHL2.7 billion, from two Australian banks for the projects of its subsidiary. The company has signed agreements with New Zealand Banking Group Ltd. and Westpac Banking Corp., ACEN said in a disclosure to the stock exchange.
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ACEN secures AUD75 million for Australia projects
Real Estate
Century Properties completes PHP2 billion share offering
REAL ESTATE developer Century Properties Group, Inc. (CPG) completed its PHP2 billion Series B preferred shares follow-on offering. “We are very pleased with the investors’ reception of our issuance which allowed us to price at the tighter end of the marketing spread and set the dividend rate at 7.5432%,” CPG Chief Finance Officer Ponciano S. Carreon, Jr. said in a statement.
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Century Properties completes PHP2 billion share offering
Cebu Landmasters gets shareholders’ nod for PHP5 billion preferred shares offering
CEBU Landmasters, Inc. (CLI) shareholders have approved the planned PHP5 billion preferred shares offering, the listed property developer announced. The shareholders approved the offer during a meeting on Feb. 14, the company said in a disclosure to the stock exchange.
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Cebu Landmasters gets shareholders’ nod for PHP5 billion preferred shares offering
Filinvest Development raises PHP10 billion from first tranche of bond offering
FILINVEST Development Corp. (FDC) has raised PHP10 billion in the first tranche of its PHP3 billion three-year bond program, the Gotianun-led conglomerate said. In a filing, FDC reported raising PHP10 billion through 2.5-year peso fixed-rate bonds at a 6.3206% annual interest rate. The first tranche included a PHP7 billion base offer and an option for oversubscription of up to PHP3 billion.
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Filinvest Development raises PHP10 billion from first tranche of bond offering
Consumer & Retail
Coca-Cola eyeing to invest additional USD1 billion in PHL
THE COCA-COLA Co. (TCCC) will invest USD1 billion, or around PHP56 billion, in the Philippines over a five-year period to sustain its domestic expansion, a company officially said. “In the next five years, we’re planning for USD1 billion investment, and in fact, we’ve even doing a new plant, which we are building in Tarlac,” Coca-Cola Europacific Partners Plc (CCEP) Chairperson Sol Daurella Comadrán said in a statement.
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Financial Services
AsiaLink secures PHP4 billion investment from Malaysian equity firm Creador
ASIALINK Finance Corp. said that it received a PHP4 billion investment from Malaysian private equity firm Creador to fund its expansion plans. “With Creador, Asialink is primed for further growth to help the largely unbanked part of the business community. This partnership is envisioned to strengthen the small and medium enterprises and make them a major contributor to economic growth just like in other developed economies,” AsiaLink Chief Executive Robert B. Jordan, Jr. said in a statement.
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AsiaLink secures PHP4 billion investment from Malaysian equity firm Creador
Others
PHILEX MINING CORP. said its subsidiary, Silangan Mindanao Mining Co., Inc., has secured an additional USD170 million loan to initiate operations for its Surigao del Norte mine, slated to commence by 2025. “The signing of the agreement completes the total loan facility of USD170 million needed to bring the Silangan Project into commercial operation by the first quarter of 2025,” the company said in a disclosure.
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Philex’s Silangan completes USD170 million loan facility for Surigao project
OceanaGold Philippines eyes IPO by May
THE PHILIPPINE subsidiary of Australian-Canadian mining company OceanaGold Corp. is targeting a public listing by May in compliance with its mining contract. OceanaGold Corp. said in its updated prospectus dated Feb. 26 that the proposed initial public offering (IPO) for OceanaGold Philippines, Inc. (OGPI) is tentatively scheduled for settlement and listing on May 7.
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A Brown raises PHP1.44 billion from preferred shares offering
A BROWN Co., Inc. (ABCI) announced that it had successfully raised PHP1.44 billion through a follow-on offering as part of its fundraising efforts. The offering involved Series B and C preferred shares, which were subsequently listed on the Philippine Stock Exchange, ABCI said in a regulatory filing. The offering was oversubscribed by 1.44 times the base amount, it also said.
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A Brown raises PHP1.44 billion from preferred shares offering
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 = PHP56.20 as of 2/29/2024