perhaps, to be certain, that we can raise the funds for MPIC and for the hospitals itself, that maybe we should issue an
exchangeable bond in the next two to three months, that is convertible directly to the hospitals, to the hospital holding company,' said Pangilinan after he presented the Manila Electric Co.'s (Meralco) first-half financial and operational results on Monday.
He said the
exchangeable bonds tender has to be undertaken in the next 2 to 3 months so it could be perfectly timed with the immediate need for cash infusion at Metro Pacific.
A combination of 0.35724 newly issued consideration shares and 2.99726 principal amount of new
exchangeable bonds per Songa Offshore share, with up to NOK 125,000 being payable in cash based upon NOK 47.50 per Songa Offshore share; or NOK 47.50 per Songa Offshore share in cash.
There is currently strong investor appetite for GCC convertible and
exchangeable bonds, in particular when issued using standard structures rather than Sukuks.
Section II describes the premises of the
exchangeable bonds issues.
Government has been advised by Financial Advisory Consortium (FAC) to access international capital markets after general elections for raising funds for Oil and Gas Development Company Limited (OGDC)
exchangeable bonds worth of USD 500 mn.
France based, BNP Paribas (EPA: BNP) is to reduce its stake in Swiss fund, Pargesa (FRA:PGH1) with
exchangeable bonds valued at EUR375m, according to Reuters.
The eight entities that was planned to be privatize in the shape of strategic sale of their shares or
exchangeable bonds in 2011-12 Oil includes Gas Development Company Limited (OGDCL), National Power Construction Company (NPCC), Heavy Electrical Complex (HEC), Pakistan Petroleum Limited (PPL), Faisalabad Electric Supply Company (FESCO), the National Bank of Pakistan (NBP) Habib Bank Limited (HBL), Kot Addu Power Company Limited (KAPCO).
Other borrowers have opted to tap liquidity sources through bond issues in yen or ringgits, as well as
exchangeable bonds, "coco" bonds, or structures which include an amortisation element, with various degrees of success.
19 August 2011 -- Malaysian rating agency MARC on Thursday terminated its A rating on lottery, property and hotel operator Berjaya Land Berhad's (KUL:BJLAND) Secured
Exchangeable Bonds.
Earlier this week, government efforts to issue
exchangeable bonds worth USD 500 million went in vain as international investors advised Islamabad to wait for a suitable time.
Citing a finance ministry official, daily Express Tribune said that the US Congress is yet to clear the transaction.This is the second major setback to Pakistan's besieged economic managers who seem to be struggling to keep the budget deficit below six percent of total Gross Domestic Product (GDP).Earlier this week, government efforts to issue
exchangeable bonds worth USD 500 million went in vain as international investors advised Islamabad to wait for a suitable time.
