MANILA Jan 17 Conglomerate JG Summit Holdings
Inc has raised $750 million in the largest
international bond issue by a Philippine company, and has
achieved the lowest yield ever for a 10-year U.S.
dollar-denominated bond, issue manager HSBC said on
The senior unsecured notes are due 2023 and were priced at
par with a coupon of 4.375 percent.
They were issued overnight by unit JGSH Philippines Ltd and
guaranteed by JG Summit. Proceeds will be used for JG Summit's
general corporate purposes.
JG Summit, which has a market value of $6.4 billion, has
interests in food and beverages under Universal Robina Corp
and property development under Robinsons Land Corp
. It also owns the country's largest budget carrier Cebu
Pacific and has a stake in Philippine Long Distance
Citigroup and Credit Suisse were also joint
lead managers for the issue.