Live Breaking News & Updates on Lacson Street|Page 10
Stay updated with breaking news from Lacson street. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Securities and Exchange Commission (SEC) has considered favorably the fixed-rate bond offering by Converge Information and Communications Technology ....
MANILA - The Securities and Exchange Commission (SEC) has considered favorably the fixed-rate bond offering by Converge Information and Communications Technology Solutions, Inc. and initial public offering by Asia Pacific Medical Center (APMC) Bacolod, Inc. In its March 22 meeting, the commission en banc resolved to render effective the registration statements of Converge covering up to PHP20 billion of bonds under shelf registration, and of APMC Bacolod for up to PHP1 billion of common shares, subject to the companies' compliance with certain remaining requirements. Converge may offer the PHP20-billion fixed-rate bonds in tranches within three years. For the first tranche, the listed internet provider will offer to the public up to PHP5 billion of bonds due 2027, with an oversubscription option of up to PHP5 billion. Assuming the oversubscription option is fully exercised, the company could net up to PHP9.87 billion from the offer. Proceeds will be used to fund the company's c ....