PSE Circular for Brokers No. 1479-99
PSE Circular for Brokers No. 1479-99 • Philippine Stock Exchange • Circulars for Brokers • Jun 23, 1999
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June 23, 1999 PSE CIRCULAR FOR BROKERS NO. 1479-99 Philippine Stock Exchange Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Ms . Eileen M . Lacorte Analyst, Disclosure Department Gentlemen : In connection with the news article published today in the Manila Bulletin, we furnish the following clarification. MERALCO is contemplating raising up to US$500 million through the international bond market to finance part of its capital expenditure program for the next 5 Years. The mandate was awarded on a joint lead basis to Citibank/Salomon Smith Barney and Merrill Lynch. Details of the issue are not yet available as the Company is still in discussion with the underwriters as of date. LexLib MERALCO wishes to clarify however, the mis-information the press/media has in that the purpose of this fund raising exercise is not to refinance any bridge loan of the company and that it is intended to finance part of our capex program as mentioned above. MERALCO has not issued any press statement nor released any information regarding this particular bond issue and that the Company has no control as to what the press/media may be reporting. We assure you that the Company will make proper disclosures on this matter at the appropriate time. Very truly yours, (SGD.) RAFAEL L. ANDRADA Senior Assistant Vice President and Treasurer
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