Gokongwei family-led conglomerate JG Summit Holdings Inc. is preparing to tap the offshore bond market through an overseas unit to raise fresh funds.
In a regulatory filing, JG Summit said its wholly-owned subsidiary JSH Philippines Ltd. plans to issue fixed-rate notes, subject to market conditions.
It has tapped UBS, Credit Suisse and Standard Chartered Bank as joint bookrunners and lead managers for the proposed offer.
JG Summit has authorized its management to determine the extent of its participation as a guarantor as well as to finalize the terms and conditions of such guarantee.
The company has business operations in food and beverages under listed Universal Robina Corp., property development (Robinsons Land Corp.), air transportation (Cebu Pacific) banking and financial services (Robinsons Bank) and petrochemicals.
JG Summit also holds core investments in telecommunications and power generation and distribution through its stakes in Philippine Long Distance Telephone Company and Manila Electric Co.
Source: Peso Economics
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