PSE Circular for Brokers No. 2216-99
PSE Circular for Brokers No. 2216-99 • Philippine Stock Exchange • Circulars for Brokers • Sep 6, 1999
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September 6, 1999 PSE CIRCULAR FOR BROKERS NO. 2216-99 September 3, 1999 Philippine Stock Exchange PSE Center, Exchange Road Ortigas, Pasig City Attention: Ms . LUISA W . BUENAVENTURA Supervisor Disclosure Department Gentlemen: This is with reference to your inquiry about the news article captioned "Creditor banks reject Mondragon swap proposal to settle obligations" published in today's issue of the Business World. llcd Mondragon had been negotiating with the three (3) banks in raising funds to repay various obligations of the company. However, after series of proposals and counter proposals, the parties were unsuccessful in concluding The final terms and conditions to govern the said financing arrangement In the meantime, we are exploring various alternatives to raise funds in order to meet our obligations with Clark Development Corporation ("CDC"), Philippine Amusement & Gaming Corporation ("PAGCOR"), Bureau of Internal Revenue ("BIR") and other creditors. LibLex Hope the foregoing meet your requirements. Very truly yours, (SGD.) PIERRE PAUL S. BUHAY Financial Comptroller
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