Philippines: San Miguel Brewery hands additional prepayment for multi-million dollar facility

Beer maker San Miguel Brewery, Inc. (SMB) has handed an additional prepayment for its multi-million dollar facility using proceeds from a recent bond sale, a disclosure to the bourse on April, 27 showed.

San Miguel Brewery said that it gave a $50-million partial prepayment for its $300-million term facility, in addition to the $100 million it had handed in on April 13.

"Part of the proceeds of the company’s recent P20-billion, fixed rate bond offering was used for the said partial prepayment," the disclosure showed.

Share prices closed at P29.95 today from P30.00 the previous day.

27 April, 2012