San Miguel Corp. recently released their indicative timetable of the Php 30 Billion preferred share sale that is set to refinance their existing debt. The offer period will take place on the second week of March. The deadline for commitment letter submission, pricing, and allocation is set on March 3.
The company expects the approval and permit to sell to be received from the Securities and Exchange Commission by March 4. This is to be followed by the public offer period from March 7 to 11. Both the listing date and the issue is slated for March 21. The proceeds of the sale is to be used for refinancing the company’s existing USD-denominated obligations.
