Ayala’s Second PhP10 Billion Issuance in its Fixed-Rate Bonds Program Rated PRS Aaa

Makati—(PHStocks)—An Issue Credit Rating of PRS Aaa, with a Stable Outlook, was assigned by Philippine Rating Services Corporation (PhilRatings) for Ayala Corp.’s (PSE: AC) proposed PhP10 billion Retail Bonds. The proceeds of the issuance will be used to refinance Ayala’s outstanding PRS-rated bond issuance of PhP10 billion maturing on April 30, 2017.

This will be the second and last issuance of the company in relation to its three-year Fixed Rate Bonds Program (FBP) of up to PhP20 billion. Last July 2016, Ayala initially issued PhP10 billion in Retail Bonds due on July 7, 2023 for its FBP. These were similarly assigned an Issue Credit Rating of PRS Aaa, with a Stable Outlook, by PhilRatings.

Continue reading…

Related Articles:

 

ICTSI Manila Hits 2 Million TEU Milestone

Manila—(PHStocks)—The Manila International Container Terminal, International Container Terminal Services Inc.’s (ICTSI, PSE: ICT) flagship operation and the Philippines’ largest, most technologically advanced container terminal, capped 2016 with a milestone as it reached its first year-to-date two millionth TEU move last December. Nominated among the world’s top container terminals for several years, the MICT has an annual capacity of 2.75 million twenty-foot equivalent units (TEU).

The two millionth TEU container was offloaded from SITC Osaka, which is operated by Chinese megaliner SITC Container Lines. The container vessel originated from Ningbo in China. SITC is one of MICT’s longtime clients with regular vessel calls to the Port of Manila. MICT reached its first one million-TEU move back in December 2002.
Continue reading…

Related Articles:

 

Primex Group Prepays All Bank Obligations

Manila–(PHStocks)–Listed property developer Primex Corp. (PSE: PRMX) disclosed that, together with its subsidiary Primex Realty Corp. and affiliate Primex Land Inc., the group, which has a total approved loan line of PhP1.8 billion, was able to prepay all its bank obligations with Metrobank (PSE: MBT) and BDO Unibank (PSE: BDO) as of January 3, 2017.

The listed firm has an approved loan with Metrobank amounting to PhP300 million, which is due to mature on April 2020, while its subsidiary, Primex Realty Corp., the owner and developer of a 31-storey residential tower in Salcedo Village Makati prepaid both its term loan with Metrobank amounting to PhP700 million and its 500 Million loan with BDO. The Metrobank loan that matured last July 6, 2016 was fully paid three months ahead of time, while the BDO loan that will mature in 2020 was fully settled before the year 2016 ended. Also, its affiliate Primex Land Inc. was able to wipe out all its bank obligations of PhP300 million five months ahead of maturity.

Continue reading…

Related Articles:

 

Megaworld Expands Saint Honore in Iloilo Business Park

Makati—(PHStocks)—Just three months after its launch, Megaworld Corp.’s (PSE: MEG) Saint Honore residential tower in Iloilo Business Park is expanding with a new residential wing as demand for condominium units continues to soar in this side of Iloilo City.

The Saint Honore ‘South Wing’ is an expansion of the North Wing launched in late August, offering an additional 155 units to the growing residential market in Iloilo Business Park.

Continue reading…

Related Articles:

 

BDO Sets Final Terms for PhP60B Stock Rights Offer

Makati—(PHStocks)—BDO Unibank Inc. (PSE: BDO) announced that it has fixed the final terms for its PhP60 billion stock rights offering of up to 716.4 million common shares (the “Rights Shares”) to stockholders as of record date 10 January 2017. Each eligible stockholder is entitled to subscribe to one (1) common share for every 5.095 common shares held as of record date at an offer price of PhP83.75 per Rights Share. The offer price is based on the 15-day volume-weighted average price of BDO common shares listed at the PSE at a discount of 23.4%.

The stock rights offer will commence at 9:00 a.m. on 16 January 2017 and end at 12:00 p.m. on 24 January 2017.

Continue reading…

Related Articles:

 

SM City Tianjin: SM Prime’s 7th Mall in China

Pasay—(PHStocks)—SM Prime Holdings Inc. (SM Prime, PSE: SMPH), one of the leading integrated property companies in Southeast Asia, soft opened SM City Tianjin last Saturday, December 17. This is SM Prime’s seventh mall in China with a gross floor area (GFA) of 565,000 square meters (sqm).

“The opening of SM City Tianjin reflects our strong confidence on China’s economy. This gives SM Prime a wider perspective on China’s shopping culture, allowing us to capture bigger opportunities as an international integrated property developer,” SM Prime President Jeffrey C. Lim said.

Continue reading…

Related Articles:

 

Sta. Lucia Land Lays Foundation for Long Term Growth

Cainta—(PHStocks)—During the year 2016, Sta. Lucia Land Inc. (PSE: SLI) has beefed up its project development pipeline by acquiring and partnering with landowners for properties totaling approximately 937 hectares.

Continue reading…

Related Articles:

 

BDO Secures PSE Approval for PhP60B Rights Offer

Makati—(PHStocks)—BDO Unibank Inc. (PSE: BDO) announced that the Board of Directors of the Philippine Stock Exchange (“PSE”), during its meeting on 14 December 2016, approved the listing of the new common shares to be issued from the Bank’s program to raise up to PhP60 billion (approximately $1.2 billion) in additional core capital through a stock rights offer (the “Offer”). The Bangko Sentral ng Pilipinas (BSP) had given its clearance to proceed with the Offer on 23 November 2016.

The fresh capital will support the Bank’s medium-term growth objectives amid the country’s favorable macroeconomic prospects and provide a comfortable buffer over higher capital requirements with the forthcoming imposition of the Domestic Systemically Important Bank (DSIB) surcharge.

Continue reading…

Related Articles: