INQUIRER.net: JG Summit raises $750M from offshore debt deal

INQUIRER.net Philippine News for Filipinos

JG Summit raises $750M from offshore debt deal Jan 16th 2013, 23:43 MANILA, Philippines--A unit of Gokongwei-led conglomerate JG Summit Holdings has raised $750 million from the sale of long-term offshore debt, making history for executing the largest overseas corporate debt deal out of the Philippines. Wholly-owned subsidiary JGSH Philippines Ltd. issued 10-year senior debt at 4.375 percent per annum. The debt issue was upsized from original offer size of $500 million due to strong demand. The order book reached $6.6 billion, said Wick Veloso, chief executive officer of HSBC Philippines which is one of the issue arrangers. "JG Summit is a credit that the market wants an exposure to and this is best shown by the overwhelming demand and tight pri... Keep on reading: JG Summit raises $750M from offshore debt deal Media files: jg_summit.jpg (image/jpeg)

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