By Marisa Wong
Los Angeles, Oct. 1 – Puregold Price Club Inc. said it completed its landmark issuance of PHP 12 billion of fixed-rate corporate notes on Wednesday.
Puregold sold PHP 7 billion of seven-year notes with a coupon of 4% and PHP 5 billion of 10-year notes with a coupon of 4.513%.
The offering attracted a 1.3 times oversubscribed book from universal banks, government financial institutions, foreign banks and an insurance company, according to a company announcement.
China Bank Capital Corp. acted as lead arranger and bookrunner. Development Bank of the Philippines and Land Bank of the Philippines were joint lead arrangers, with First Metro Investment Corp. as co-underwriter.
Proceeds will be used to open more Puregold and S&R stores, as previously reported.
Based in Manila, Puregold operates wholesale and retail stores, including supermarkets.
| Issuer: | Puregold Price Club Inc.
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| Issue: | Fixed-rate corporate notes
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| Amount: | PHP 12 billion
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| Underwriters: | China Bank Capital Corp. (lead arranger and bookrunner); Development Bank of the Philippines and Land Bank of the Philippines (joint lead arrangers); First Metro Investment Corp. (co-underwriter)
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| Settlement date: | Sept. 30
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| Seven-year notes
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| Amount: | PHP 7 billion
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| Maturity: | Seven years
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| Coupon: | 4%
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| 10-year notes
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| Amount: | PHP 5 billion
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| Maturity: | 10 years
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| Coupon: | 4.513%
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