By TED CORDERO, GMA News
Published March 10, 2021 4:15pm Gokongwei-led Cebu Air Inc., the operator of budget carrier Cebu Pacific, said Wednesday it has successfully raised P12.5 billion from its issuance of peso-denominated convertible preferred shares, to finance its financial obligations. In a disclosure to the Philippine Stock Exchange, Cebu Air said it has ended the stock rights offer of 328,947,368 non-voting, non-participating convertible preferred shares as an “entitlement rights” at a price of P38 per entitlement right. “Accordingly, the Entitlement Rights have been fully subscribed and paid,” the company said. The listing date for the offer shares is tentatively set on March 29, 2021.
Cebu Pacific signs PHP16 0 billion ten-year term loan with Philippine domestic banks
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Dubai-Manila flights as low as AED1 still up for grabs in Cebu Pacific s Super Seat Fest
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By TED CORDERO, GMA News
Published March 5, 2021 12:28pm Gokongwei-led budget carrier Cebu Pacific said Friday it has signed a P16-billion loan deal with several domestic banks as it looks for various funding sources to finance its operations, which was adversely affected by the COVID-19 pandemic. In a disclosure to the Philippine Stock Exchange, Cebu Air Inc., the operator of Cebu Pacific, said it signed a 10-year term loan facility with state-run Development Bank of the Philippines (DBP) and Land Bank of the Philippines. Private banks Asia United Bank Corporation (AUB), Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Company, and Union Bank of the Philippines (“UBP”) also joined as lenders in the P16-billion term loan facility.
March 5, 2021 | 6:16 pm Font Size
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Cebu Air, Inc., operator of budget carrier Cebu Pacific, on Friday said its board approved a P16-billio, ten-year loan from local banks.
In a disclosure to the stock exchange on Friday, the company said that its board of directors approved the loan from state banks Development Bank of the Philippines and Land Bank of the Philippines, in partnership with private banks.
The private banks include Asia United Bank Corporation, Bank of the Philippines Islands, Metropolitan Bank & Trust Company, and Union Bank of the Philippines.
The loan will be used to fund the firm’s capital expenditures and other general corporate purposes.