Pursuits
San Miguel Woos Small Investors as It Pares Dollar Debt
- Conglomerate's units may sell peso bonds to individuals
- Philippines' biggest company targets oil, gas assets abroad
This article is for subscribers only.
San Miguel Corp., the Philippines’ largest company, may sell bonds to small investors and cut its dollar-denominated debt to tap the country’s growing wealth and shield its earnings from a weaker peso.
The energy, infrastructure and beer company plans to borrow more in pesos and sell preferred shares to refinance existing dollar debt and fund infrastructure projects ranging from rail and power to ports and toll roads, President Ramon Ang, 62, said in an interview Feb. 12.