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SanMig Brewery seeking $500-600 mln loan - RLPC

Thu Oct 29, 2009 5:53am EDT

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MANILA, Oct 29 (Reuters) - San Miguel Brewery (SMB.PS), the flagship of Philippine food-to-power conglomerate San Miguel Corp (SMC.PS) (SMCB.PS), is in talks with some banks for a $500-600 million loan, Reuters Loan Pricing Corp (RLPC) reported on Thursday.

The report, quoting banking sources, said the Southeast Asian brewer needs the funds for expansion and was discussing the structure of the financing with banks.

But San Miguel Brewery was also considering sourcing the funds from the bond market.

ANZ, Mizuho Corporate Bank and Standard Chartered bank set up a $300 million backstop facility for the brewer earlier this year, but the facility was not utilised, the report said.

San Miguel was not immediately available for comment on the report. (Reporting by Rosemarie Francisco; Editing by Lincoln Feast)



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