Philippines' JG Summit plans to sell PHP 5 billion retail bonds

By Susanna Moon

Chicago, Sept. 8 - JG Summit Holdings Inc. informed the Philippine Stock Exchange that it will complete its plans to offer PHP 5 billion of retail bonds in the next two weeks.

Proceeds will be used to boost working capital.

"As a holding company, we'll always need fresh liquidity for various investments or we can use it to pay down some existing debts," the company said in a press release.

ING Bank NV and SB Capital Investment Corp. have been appointed as joint issue managers.

The issuer is a Pasig City, the Philippines-based conglomerate.

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