Market summary
Transportation & Logistics had a single transaction for the month of September, a USD750m loan agreement between International Container Terminal Services, Inc. and Metrobank.
Financial Services saw an M&A transaction in September with Mynt, the parent company of GCash, acquiring ECPay from Globe for PHP2.31bn.
DITO was able to secure a 15-year, long-term loan worth USD3.9bn from a consortium of lenders.
Aggregate Deal Value = USD1,398.2m
This month’s top deals
Energy
Greenergy subscribes to 480 million shares in Winsum
Greenenergy Holdings Inc., a company led by businessman Antonio Tiu, said it will subscribe to additional shares in wholly-owned renewable subsidiary Winsun Green Ventures Inc. for PHP480 million. The shares will come from the proposed increase in WGVI’s authorized capital stock to PHP500 million from PHP20 million.
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RCBC finalizing PHP20 billion renewable energy loans
Metro Global eyes PHP.75 billion share sale to build RE projects
Telecommunication & Media
DITO secures USD3.9 billion loan for network expansion
DITO CME Holdings Corp. said its subsidiary DITO Telecommunity Corp. had secured a USD3.9 billion 15-year long-term loan facility.
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Globe secures PHP15 billion loan from Metrobank for capex
Real estate
PBCOM approves PH realty and Holdings Corp's 5-year term loan facility amounting to PHP3.8 billion
The Philippine Bank of Communications (PBCOM) has approved the Philippine Realty and Holdings Corp.’s application for a five-year term loan in the amount of PHP3.8 billion to partially finance the construction of the company’s Casa Unico project.
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PBCOM approves PH realty and Holdings Corp.’s 5-year term loan facility amounting to PHP 3.8 billion
Vista Land plans PHP35 billion bond offering
Industrials & Manufacturing
Holderfin buys 3.62% of Holcim PH
Holderfin B.V., a Netherlands-based subsidiary of Holcim Ltd., has acquired 3.62 percent more of the outstanding shares of Holcim Philippines Inc. worth PHP1.25 billion from the first round of its tender offer to bring down the cement firm’s public float to just 1.43 percent.
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Consumer and Retail
JFC completes acquisition of brand's Hong Kong franchise
Jollibee Foods Corp. (JFC) has completed the acquisition of the majority stake in the Jollibee brand’s master franchisee in Hong Kong, which it considers an important market. In a stock exchange disclosure, JFC said its Singapore-based unit Golden Plate Pte. Ltd. finalized the deal to acquire 60% of master franchisee Meko Holdings Ltd. For USD16.08 million.
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Transportation & Logistics
ICTSI secures USD750 million loan for overseas expansion
Razon-led International Container Terminal Services, Inc. (ICTSI) has signed a USD750 million loan agreement with Metropolitan Bank & Trust Co. (Metrobank).
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Financial Services
BPI to raise PHP5 billion from bond sale
Ayala-led Bank of the Philippine Islands (BPI) will issue PHP5 billion fixed-rate, 1.5-year bonds, proceeds of which will be used to finance operations and other “general corporate purposes”.
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GCash's parent company Mynt acquires ECPay for PHP2.31 billion
Tech
TANGGapp raises USD2.5 million to make remittance easier for Filipinos
The company recently raised USD2.5 million in seed funding from various investors including Goodwater Capital, Foxmont Capital Partners, and Manila Angel Investors Network. TANGGapp lets users transfer money from the US to the Philippines quickly and with a low minimum amount.
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TANGGapp raises USD2.5 million to make remittance easier for Filipinos
NDC board approves PHP11 million investment in digital energy platform
Others
GSIS increases stake in MPIC
State pension fund Government Service Insurance System (GSIS) has increased its stake in Pangilinan-led Metropacific Investments Corp. (MPIC), the tollways and infrastructure conglomerate to 12 percent from three percent previously.
*Closing price of PHP5.12 per share on August 29, 2023
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AEV gains approval for PHP17.45 billion bond offer in final tranche
DFNN clears sale of offshore gaming subsidiary
Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Philippine entity and/or business. Rumored, announced, or planned deals not included. Cross-posted deals are also adjusted to avoid double count.
*USD 1.00 = PHP56.65 as of 09/30/2023
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