Stock News 2013: HSBC named “Best Debt House”

HK HSBC Main Building 香港滙豐總行大廈 (Photo credit: Wikipedia)

British bank Hongkong and Shanghai Banking Corp. Ltd. was named “Best Debt House in the Philippines 2012” by Hong Kong-based financial magazine The Asset, winning this citation for the fifth consecutive year.

HSBC has been winning the award from this magazine as best arranger of debt deals in the Philippines since 2008 which the bank said was a “testament to the number of landmark transactions it has executed throughout the years.”

The foreign bank has pioneered some of the largest corporate transactions in the Philippines, including San Miguel Brewery’s P38.8-billion retail bond issue and San Miguel Corp.’s P80-billion preferred shares issue, the largest capital market transaction in the country so far.

HSBC also arranged a number of successful deals for the Philippines, launching its first Global Peso Note, and all of its three liability management exercises. These exercises have tempered foreign exchange risk for the country and pared down interest expense. The Philippines’ most recent P30.8-billion 10-year GPN and $1.2 billion tender offer also won Euromoney’s “Deals of the Year 2012.”

Last January, HSBC executed ICTSI’s $300-million 10-year offshore bonds, JG Summit’s $750-million 10-year offshore bonds and Petron Corp.’s $500-million perpetual bond issue.

http://business.inquirer.net/107063/hsbc-named-best-debt-house-in-ph

Related articles

• Stock News 2013: JG Summit raises $750M (investingstocksinphilippines.blogspot.com)
• Stock News 2013: SMC property unit goes back into private hands (investingstocksinphilippines.blogspot.com)
• Midland MI based, SendGCASH.com Announces New Services to Send Money to the Philippines from the US (prweb.com)
• HSBC Bank to Sell HSBC AEDAK Stake (HBC) (streetinsider.com)
• HSBC Sells $7.4B Ping An Stake to Thai Billionaire (bloomberg.com)
• Philippine Business Bank to raise $79 mln in country's first IPO of 2013 (uk.reuters.com)
• Japan's Stimulus Seen Boosting Southeast Asia as Korea Suffers (bloomberg.com)
• China Permits HSBC Sale of Ping An Stake to Thai Billionaire - Bloomberg (bloomberg.com)
• Stock News 2013: PSE okays thrift bank's P4.25-B IPO (investingstocksinphilippines.blogspot.com)
• Patricia : Philippines (kiva.org)

Stock News 2011: SMIC expects better Q3, on track for double-digit growth

Conglomerate SM Investments Corporation (SMIC) expects its third quarter performance this year to be better than the same period in 2010 as Filipinos remain optimistic about their prospects.

In an interview at the sidelines of a forum organized by the Economic Journalists Association of the Philippines, SMIC chief finance officer Jose Sio said sales this year is being boosted by higher consumer spending.

He noted that this is due to strong remittances from overseas Filipinos as well as the large number of business process outsourcing firms all over the country which is providing employment and resulting in more disposable income.

However, Sio noted that, traditionally, earnings in the second quarter is seasonally better than in the third quarter.

He also disclosed that SMIC is on track to hit its targets this year as indicated by its first half results. “The indication is the same as of now. We can fulfill, if not better, our original budget,” Sio said.

SMIC registered a 13 percent growth in net income to P9.64 billion in the first half of 2011 from P8.53 billion during the same period in last year.

Consolidated revenues increased 9 percent to P92.94 billion as compared to P84.99 billion in the first semester of 2010.

The robust performance of SM’s property group, particularly its residential development business, and the sustained growth of its banking subsidiaries contributed to the company’s positive results for the period.

http://mb.com.ph/articles/334380/smic-expects-better-q3-track-doubledigit-growth