PH’s Robinsons Land sets timetable for $271.1m bond sale

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Philippine-based real estate investment firm Robinsons Land Corp (RLC) finally released a timetable for its P12 billion ($271.1 million) bond sale, meant to refinance existing debt obligations and to partially fund the investment capital expenditures. Last December, RLC had revealed plans to issue bonds worth P10 billion with an oversubscription… Read more »

Phoenix Petroleum’s $33.9m additional STCP issue approved by SEC

Listed independent oil company Phoenix Petroleum Philippines Inc has gained the approval of the Securities and Exchange Commission (SEC) on the additional issuance and public offering of its short-term commercial papers (STCPs) of P1.5 billion ($33.9 million). “The new STCP offering came in response to the oversubscription of the first… Read more »


RCBC subscribes to additional shares worth $11.28m in own subsidiary

Philippine-listed Rizal Commercial Banking Corp (RCBC) is raising its shareholdings in one of its subsidiaries – RCBC Leasing & Finance Corp – by P500 million ($11.28 million). In a disclosure to the stock exchange, the universal bank said its board of directors had approved the subscription of RCBC Leasing &… Read more »


HK’s First Pacific eyes 51% stake in Roxas Holdings

Hong Kong-based First Pacific Co Ltd is planning to raise its stake in Philippine-listed sugar miller and refiner Roxas Holdings Inc (RHI) to 51 per cent, reported Business World Online. First Pacific managing director Manuel V Pangilinan told local media that the deal might be done soon. The deal will infuse… Read more »


Mizuho mulls buying 60% stake in PH’s Bank of Commerce

Mizuho Financial Group Inc, Japan’s second-largest lender by assets, is mulling to buy the 60 per cent stake that San Miguel Corp owns in the Philippine-based Bank of Commerce, reports said. Quoting a source with knowledge of the negotiations, Reuters reported that besides Mizuho, other possible investors in the local unlisted Bank of… Read more »


PH Central Bank okays RCBC’s share sale to Cathay Life

The central bank of the Philippines Bangko Sentral ng Pilipinas (BSP) has approved on Monday, the proposed sale and transfer of Rizal Commercial Banking Corporation’s (RCBC) shares to Cathay Life Insurance Co Ltd (Cathay). The bank had earlier told the stock exchange that BSP approved the updates on its previous disclosure of… Read more »


PH’s Cebu Pacific to sell 6 airbus to US-based Allegiant Air

Philippine-listed airline company Cebu Pacific Air has signed a forward sale agreement for six Airbus A319 aircraft, with Allegiant Air, a Las Vegas-based low-cost airline firm. The transaction’s amount was not disclosed. Allegiant Air is a subsidiary of Allegiant Travel. Cebu Pacific informed the stock exchange on Monday that the delivery of… Read more »


PH port operator ICTSI appoints Gonzalez as APAC head

Philippine-listed port operator International Container Terminal Services Inc (ICTSI) has appointed Christian R. Gonzalez as vice president and head of Asia Pacific Region & Manila International Container Terminal (MICT). Gonzalez has been serving ICTSI as head of the Asia region and VP for operations since August 2012. In a disclosure… Read more »


Carmudi gets $25m funding to boost Asia, Latin America operations

Germany-based online car classified platform Carmudi, backed by Rocket Internet, raised $25 million to boost its operations in Asia and Latin America. Involved investors are Asia Pacific Internet Group (APACIG), a joint venture of Rocket Internet and Ooredoo, Holtzbrinck Ventures, a leading consumer internet investor, Tengelmann Ventures, a division of… Read more »


CashCashPinoy plans marketing push, to engage more people

Philippine digital startup CashCashPinoy is planning to get people to experience online shopping. For this, one of the company strategies is introduce the option of cash-on-delivery, shortly.