San Miguel Corp. plans to raise P20 billion through a bond sale.
The company said it has yet to submit the requirements to the Securities and Exchange Commission (SEC) but has received the approval of its Board of Directors.
The bond sale will be the last tranche of a P50- billion SEC shelf-registered peso-denominated bonds.
San Miguel grew its profit last year by 67 percent to P44.7 billion from P26.77 billion. Revenues were at P1.45 billion, down 4 percent from P1.51 billion the prior year.
Last year’s performance was driven by significant volume growth across its key businesses, including San Miguel Brewery, Inc., Ginebra San Miguel Inc., Petron Corp., and SMC Infrastructure, together with the integration of Eagle Cement Corp.’s financial results.
