Bank of China provides $120 million loan to San Miguel Corporation for unspecified purposes
Commitment amount
$ 138280578.84251684
Adjusted commitment amount
$ 138280578.84
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Philippines
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 30, 2018, San Miguel Corporation used the proceeds from a bond issue to fully repay a $120 million Bank of China loan that it had previously contracted.
Additional details
1. The date on which the $120 million Bank of China loan was contracted is unknown. For the time being, AidData assumes that the loan was contracted in the prior year (2017). However, this issue requires further investigation. 2. San Miguel Corporation, abbreviated as SMC, is a private, Philippine multinational conglomerate headquartered in Mandaluyong, Metro Manila. The company is one of the largest and most diversified conglomerates in the Philippines. Originally founded in 1890 as a brewery in the Philippines, San Miguel has ventured beyond its core business, with investments in various sectors such as food and drink, finance, infrastructure, oil and energy, transportation, and real estate.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
San Miguel Corporation [Private Sector]
Implementing agencies [Type]
San Miguel Corporation [Private Sector]