The Securities and Exchange Commission en banc approved Tuesday four capital-raising deals worth P31.1 billion.
Documents filed with the SEC showed BDO Leasing and Finance Inc. would issue P25 billion worth of short term commercial papers to finance maturing obligation and fund its re-lending business.
BDO Leasing appointed BDO Capital & Investments Corp. as the exclusive selling agent for the STCPs.
The company, which is 85 percent-owned by BDO Unibank Inc., is primarily engaged in leasing and financing business.
The SEC also approved the P5-billion bond issuance of Sta. Lucia Land Inc.
Sta. Lucia is issuing P3 billion in fixed rate bonds with an oversubscription of up to P2 billion.
Assuming an issue size of P5 billion, Sta. Lucia plans to use the estimated net proceeds of P3.25 billion to refinance existing secured debt obligations and P1.75 billion to fund capital expenditures, land banking activities and construction of ongoing projects.
Sta. Lucia as of end September 2015 has an outstanding debt of P3.25 billion from several major local banks that carried interest rates between 4.75 percent and 6 percent a year and with maturities from 2015 to 2018.
Hybrid rice producer SL Agritech Corp., meanwhile, obtained SEC approval to issue up to P1 billion worth of short term commercial papers to finance purchase of inventories and refinance existing obligations.
SL Agritech tapped Multinational Investments Bancorporation as sole issue manager and underwriter for the offering.
Gweilo Corp., the operator of restaurant chain Mario’s Kitchen, slightly increased the size of its planned initial public offering to P105 million from the original P95 million.
Based on the amended registration statement filed with the Securities and Exchange Commission, Gweilo will sell 105 million common shares for P1 apiece.
The offer shares represent 53 percent of the company’s total issued outstanding capital stock.
Gweilo said it planned to use majority of the net proceeds to expand and renovate the company-owned outlets and expand its commissary catering services.
The company initially planned to raise P95 million from the maiden share sale. Asian Alliance Investments Corp. is the issue manager and underwriter of the IPO.