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Tanduay wants to raise up to P5B from bonds to refinance loans.
Byline: Jose Bimbo F. Santos
Lucio C. Tan-led Tanduay Distillers, Inc. plans to raise money by selling bonds next year to finance various obligations.
Based on a filing with the Securities and Exchange Commission, the beverage company will issue P4 billion worth of bonds with an oversubscription option of another P1 billion should there be high demand.
No other details were given except that the bond will mature after five years and one day from the issue date. Tanduay has tapped First Metro Investments Corp. and PNB Capital & Investments Corp. as joint issue managers for the offering.
The firm said the proceeds would be used to refinance …
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