In another coup for JPMorganÆs debt team, and one that reinforces its dominance in the Philippines, the firm has won the sole-lead management position on a new syndicated loan for top Philippines corporate, San Miguel.
The $200 million loan will be fully underwritten by JPMorgan and will offer international banks a rare chance to get exposure to the beer company.
San Miguel hasnÆt raised any finance for 18 months and this money will be used to refinance short-term debts and for general corporate finance purposes.
JPMorgan expects to see good demand when it syndicates the deal within the next couple of weeks, and is looking to bring in 12 or so banks.
San Miguel is not rated and JPMorgan has yet to give any indications on the pricing.