Metro Pac to issue bonds to fund Meralco deal

MANILA, Nov 6 (Reuters) - Metro Pacific Investment Corp (MPI.PS) said on Friday it would issue 12 billion pesos ($252.8 million) worth of notes to fund the purchase of a 6.7 percent stake in Manila Electric Co (MER.PS).

Metro Pacific, a unit of Hong Kong's First Pacific (0142.HK), said the 9-year fixed rate notes would be issued in one or more tranches and would be secured by Manila Electric shares.

First Metro Investment Corp (FMIC.PS) and PNB Capital and Investment Corp were appointed as lead underwriters. (Reporting by Raju Gopalakrishnan)