San Miguel says to launch peso bond offer before March

Reuters

Posted at Feb 18 2009 02:15 PM | Updated as of Feb 18 2009 11:10 PM

San Miguel Brewery, the Philippine flagship of Southeast Asia's largest food and drinks group, will launch a peso-denominated bond issue within this month, its president said on Wednesday.

Ramon Ang also told reporters that the company would not proceed with a planned dollar bond if it managed to raise the targeted amount via the domestic issue.

San Miguel has said it wants to raise as much as P38.8 billion ($812 million) through the debt issue.