PSE Market Summary:
The Philippine Stocks Market was slightly down by .01 to close at 5,325.17. Intraday trading were down by noon but recovered before market closed.
Globe Telecom (PSE:GLO) signed a P 2 billion term loan facility with Philippine American Life and General lnsurance Company, The Insular Life Assurance Company, Ltd. and Sunlife of Canada (Philippines), Inc. Loan proceeds will be used to refinance company debts and fund capital expenditure requirements. The move takes advantage of prevailing low interest rates.
WEB Declares Cash Dividend
Philweb Corporation (PSE:WEB) announced the declaration of dividends as follows:
Cash P .10 per share
ex-date Oct. 3, 2012
record date Oct 8, 2012
payment date Oct. 15, 2012
PHES in Final Stage for Potential ALI Tie-Up
Philippine Estates Corp. (PSE:PHES) confirms that it is in the final stage of negotiations in possible tie-up with Ayala Land, Inc. (PSE:ALI) to develop Metrotech Industrial Park located in Valenzuela. ALI has been active in growing its land bank for further developments.
Manila Water Company, Inc. (PSE:MWC) announced the declaration of dividends as follows:
Cash P .298 per outstanding common share
ex-date Oct. 4, 2012
record date Oct 9, 2012
payment date Nov. 16, 2012
BDO to Raise Funds with LTNCDs
BDO Unibank, Inc. (PSE:BDO) plan to issue up to P 5 billion worth of long term negotiable certificates of deposit to support its medium term objectives. The LTNCDs will carry a maturity of seven years.
SMC and TDY in Talks for Possible Joint Venture
San Miguel Corp (PSE:SMC) and Lucio Tan's LT Group (PSE:TDY) is in talks for a possible oint venture in building an airport akin to Ninoy Aquino International Airport. This shall address the requirements of Philippine Airlines, Inc. and Air Philippines Corp.