MANILA, Philippines - Philippine Long Distance Telephone Co. aims to raise up to P15 billion ($332 million) via its maiden peso retail bond issue to finance capital expenditure and refinance existing debt, it said on Thursday.
The base offer size is P10 billion, with an option for over-subscription of up to P5 billion.
The week-long offer period starts on Friday, the country's most valuable listed firm said in a statement.
Coupon rates have been set at 5.2250 percent per annum for seven-year bonds and 5.2813 percent per annum for 10-year bonds, payable quarterly.
First Metro Investment Corp, BDO Capital & Investment Corp, BPI Capital Corp and HSBC have been tapped as underwriters and bookrunners.