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
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.
RCBC finalizing PHP20 billion renewable energy loans
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) is arranging and about to complete a PHP20 billion renewable energy (RE) funding for 10 RE power plants in the country.
Metro Global eyes PHP.75 billion share sale to build RE projects
Metro Global Holdings Corp. plans to conduct a PHP3.75 billion share sale to finance renewable energy projects. MGH said in a disclosure to the stock exchange it plans to issue new shares to partially cover the proposed increase in its authorized capital stock to PHP10 billion, or 10 billion shares from PHP5 billion, or 5 billion shares.
Telecommunication & Media
DITO secures USD3.9 billion loan for network expansion
Globe secures PHP15 billion loan from Metrobank for capex
Globe Telecom, the communications unit of Ayala Corporation has raised PHP15 billion from term loan facilities with Metropolitan Bank & Trust Company (Metrobank).
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.
Vista Land plans PHP35 billion bond offering
According to Vista Land, bonds will be issued in tranches within a three-year period. The initial tranche will involve the offer and issuance of up to PHP10bn fixed-rate bonds consisting of up to PHP6bn base offer and an oversubscription option of up to PHP4bn.
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.
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.
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).
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”.
GCash's parent company Mynt acquires ECPay for PHP2.31 billion
Globe Fintech Innovations (Mynt), the parent company of GCash, is acquiring Electric Commerce Payments Inc. (ECPay) for PHP2.31 billion. Globe said it has agreed to sell its 77% stake in ECPay to Mynt while Payment One, a minority stakeholder, is also selling its stake, making the deal a full acquisition.
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.
NDC board approves PHP11 million investment in digital energy platform
The board of directors of state-owned National Development Co. (NDC) has approved an PHP11 million investment in a digital energy platform called SolX Technologies, Inc.
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
AEV gains approval for PHP17.45 billion bond offer in final tranche
In a recent update, Aboitiz Equity Ventures Inc. (AEV) announced that it has gained regulatory approval to offer bonds worth up to PHP17.45 billion. This marks the final and second tranche of the PHP30-billion shelf registration programme.
DFNN clears sale of offshore gaming subsidiary
The board of listed gaming technology company DFNN, Inc. has approved the sale of an offshore gaming subsidiary to Vanguard Investments to streamline operations.
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