San Miguel adjusts exchange price of 2% exchangeables due 2014

By Marisa Wong

Madison, Wis., Dec. 18 - San Miguel Corp. said it will adjust the exchange price of its 2% exchangeable bonds due May 5, 2014 to PHP 80.44, effective Feb. 7.

The adjustment is due to cash dividends declared on Dec. 13. The dividends will be paid on Feb. 7 to shareholders of record as of Jan. 17.

The Mandaluyong City, Philippines-based beer producer issued $600 million of the three-year exchangeables in April 2011.

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