<article>Philippine-listed snack and beverage company <a href="http://www2.urc.com.ph/">Universal Robina</a> has raised NZ$742.32 ($576 million) from a total of 14 foreign banks to fund its acquisition of New Zealand&#8217;s top snack foods maker, a <a href="http://www.reuters.com/article/2015/02/03/philippines-universal-robina-idUSL4N0VD1JO20150203">report</a> said.</article>

Philippine-listed snack and beverage company <a href="http://www2.urc.com.ph/">Universal Robina</a> has raised NZ$742.32 ($576 million) from a total of 14 foreign banks to fund its acquisition of New Zealand&#8217;s top snack foods maker, a <a href="http://www.reuters.com/article/2015/02/03/philippines-universal-robina-idUSL4N0VD1JO20150203">report</a> said.
The five-year bullet loan arrangement will be used to finance URC&#8217;s $609 million acquisition of New Zealand Snack Food Holdings Limited (NZFHL) that was announced in November 2014. The former is the parent firm of Griffin’s Foods Ltd, which is New Zealand&#8217;s number one snack foods company.
Four banks that served as leads and bookrunners had pre-funded the deal last November, namely Bank of Tokyo-Mitsubishi at NZ$150 million, then Standard Chartered, ANZ and Citigroup at NZ$64 million each, said a report byThomson Reuters unit IFR .
The IFR further added that 10 other banks that joined the leads and bookrunners and these include Bank of New Zealand, BNP Paribas, Commonwealth Bank of Australia, DBS Bank, HSBC, Mizuho Bank, Sumitomo Mitsui Banking Corp and Westpac, which contributed NZ$41 million each. CTBC Bank Co Ltd joined for NZ$40 million while Rabobank committed NZ$32 million.
<h2> Pure Foods completes La Pacita purchase </h2>
In another unrelated development, <a href="http://www.sanmiguelpurefoods.com/">San Miguel Pure Foods Company Inc</a> (SMPFC) informed the stock exchange yesterday that it has completed on February 1, the acquisition of the trademarks, formulations, recipes and other tangible properties relating to the La Pacita biscuit and flour-based snack business of Felicisimo Martinez &amp; Co Inc.
The acquisition by Pure Foods Philippines was made via an Intellectual Property Rights Transfer Agreement with the biscuit company last November 14, 2014.
This now brings La Pacita among the Filipino company’s portfolio of food brands such as Magnolia, Pure Foods, Monterey, Star, Dari Creme, B-Meg, San Mig Coffee, and JellyAce.
Pure Foods&#8217; parent company is Philippine conglomerate San Miguel Corporation (SMC) that operates the manufacturing of various beverages and food products in the Philippines. It also has businesses on packaging, fuel and oil, and power.
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Philippine-listed snack and beverage company Universal Robina has raised NZ$742.32 ($576 million) from a14 foreign banks to finance acquisition of NZ co

Universal Robina gets $576m loan for NZ buyout

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Universal Robina gets $576m loan for NZ buyout

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