San Miguel to sell P10 billion in bonds to cover debt

ABS-CBN News

Posted at Aug 22 2019 09:51 AM

MANILA -- San Miguel Corp said Thursday it planned to sell P10 billion in 5-year bonds to pay off maturing debt.

The bonds are part of a P60-billion plan that was approved by the Securities and Exchange Commission, San Miguel told the stock exchange, confirming a Philippine Daily Inquirer report.

San Miguel's most recent ventures includes the planned P734 billion New Manila International Airport located in Bulacan province north of the capital.

Shares of San Miguel were up 1.4 percent in early trading Thursday, while the Philippine Stock Exchange Index was down 1.09 percent.