JG Summit

Corporate planning director BJ Sebastian discusses funding strategy and why the group will not be re-bidding for PLDT.

Can you tell us about the $300 million Eurobond for JG Summit you priced last week via JPMorgan

Sebastian The main purpose was for re-financing. We have a $300 million convertible maturing in December and a $200 million Eurobond in March next year. We started planning our return to the international bond markets last November, because we always want to make sure we can meet re-payments at least a year in advance.

But I should also point out that the actual amounts outstanding on these bonds are quite low because we've bought a lot of bonds back There's only $100 million of the convertible left and $50 million of the...

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