If you want to see this letter from our site, please follow this link. http://www.e-malt.com/Publications.asp?14093
E-Malt.com NewsLetter
Newsletter Summary

RombBullet Quote of the week
RombBullet Currency rates
RombBullet Brewers equities
RombBullet Industry news
RombBullet Graph of the week
RombBullet Table of the week
RombBullet Prices evolution
RombBullet Barley prices
RombBullet Theoretical malt prices
RombBullet Business history
RombBullet Agenda
RombBullet News articles





Jump  to http://www.firstkey.com

Last five graphs

Note: All graphs issued with e-malt.com newsletters are published in "Graph" section of e-malt.com site.



Last five tables

All e-malt.com tables are published in e-malt.com Statistics section. The Statistics section includes Barley statistics, Malt statistics and Beer statistics. The tables related to barley are published in Barley Statistics section, the tables related to malt in Malt Statistics section and the tables related to beer in Beer Statistics section.



Last five prices evolutions




Access to E-malt.com


Do you know
E-malt.com?

Dear E-malt Reader!

E-malt.com Newsletters Archive could be found directly on e-malt.com site. Browsing through our Newsletters Archive you may see all the issues you have missed. To this purpose you just have to login e-malt.com and click on Newsletters link in the menu. Reading our Newsletters you will be kept informed with the latest news and events regarding malting and beer world. You may also submit your own news, events or other information to the address info@e-malt.com!

You may find updated malt, barley and beer statistics on e-malt.com Statistics section. Just enter e-malt.com! Here you will find all tables issued with e-malt.com newsletters.

E-malt.com Agenda gives the possibility to keep you informed about the Events planned to be held in the whole world related to the brewing and malting industries. To this purpose you just have to login e-malt.com and click on Agenda link in the menu. Reading our Event Agenda you will find out about the future symposia, conferences and festivals related to malting and beer world. You may also submit your own events to the address info@e-malt.com

E-malt.com has Trading Online system. The system is to be used for malt/barley trading. One can register a malt/barley offer or a malt/barley request. The registering person could be as a seller/buyer or as an agent for seller/buyer. The User can see information about all active malt/barley offers & requests. If needed the system allows user to buy/sell malt/barley due to reasonable offers/requests. The way to do this is to confirm reasonable transaction. Trading Online rules are available through the Internet in the Trading Online as well as Tutorial (useful for persons who starts the system usage). To visit the E-malt Trading Online first go to the E-malt.com site, then click Trading Online link in the left menu of the e-malt.com home page. For more details please contact info@e-malt.com

Thank You!


E-malt.com Links!




Note

If you have any comments, questions, suggestions or remarks, you can send a mail to: info@e-malt.com. To submit your own news to our editorial team, email to: info@e-malt.com


If you have received this newsletter from a colleague, you can obtain your own subscription here! You are not registered yet? You may register here.


You may recommend our site to your friend by clicking here.


If you do not wish to receive our newsletter, please unsubscribe your e-mail address from our mailing list by sending us an e-mail info@e-malt.com. Please take into consideration your registration data.


 UNSUBSCRIBE YOUR E-MAIL 
from our mailing list.
  SEND A MAIL TO US  
   info@e-malt.com   

Please take into consideration your registration data.


E-Malt.com Newsletter 10a
March 05 - March 07, 2018


Quote of the Week

They can conquer who believe they can.
Virgil

             You are one of the 54,000 professionals of the brewing and malting industries from 195 countries receiving our free bi-weekly E-malt Newsletters published since 2001. You seem to be pleased by getting them as we have registered something like 3 mln readings.
             To keep the high level of this informative reservoir in both brewing and malting industries and in order to continue to improve it we have to request a small contribution for full access to E-malt.com information.
             The majority of our readers have responded positively thus giving us the possibility to keep developing this global informative reference.
             A one-year membership costs only 181,- Euros and gives you full access to both our Full Bi-weekly Newsletter and website www.e-malt.com.

             You can pay by credit/debit card or bank transfer (against invoice). Ordering is simple, use our online secure ordering system: click hereunder to begin - you can have access in just 5 minutes!

CLICK HEREUNDER TO SUBSCRIBE
One-year individual subscription: 181, - Euros
Two-year individual subscription: 320, - Euros
Save money when your colleagues join:

One-year group subscription for 2-5 members: 373, - Euros
One-year group subscription for 6-10 members: 555, - Euros
One-year group subscription for 11-20 members: 737, - Euros
One-year group subscription for 21-50 members: 983, - Euros
One-year group subscription for 51-100 members: 1229, - Euros

For a personal service contact our Membership staff :
Email : info@e-malt.com
Direct line : +32 (0)87 681381; Fax : +32 (0)87 352234
If calling, please note our office hours are 9am - 5pm (Belgium time)








Currency Rates


Base Currency: US Dollar
on March 07, 2018
Base Currency: Canadian Dollar
on March 07, 2018
      1 USD = 0.8079 EUR
1 USD = 0.7209 GBP
1 USD = 1.2939 CAD
1 USD = 1.2826 AUD
1 USD = 106.1400 JPY
1 USD = 3.2288 BRL
1 USD = 56.5041 RUB
1 USD = 6.3275 CNY
      1 CAD = 0.7728 USD
1 CAD = 0.5571 GBP
1 CAD = 0.6243 EUR
1 CAD = 0.9912 AUD
1 CAD = 82.0200 JPY
1 CAD = 2.4951 BRL
1 CAD = 43.6666 RUB
1 CAD = 4.8897 CNY

Currency Rates Chart


Equities of the Largest Breweries

Equities of the Largest Breweries

North America News
Brewery news USA: Beer production drops by the highest rate in 14 years last year ...Click here
Brewery news Canada, AB: Alberta brewers push for open beer borders between provinces ...Click here
Brewery news USA: MillerCoors warns of beer price hikes and job losses if president follows through on new tax on imported aluminium ...Click here
Brewery news Canada, ON: Sleeman Breweries to resume brewing in Guelph ...Click here
Brewery news USA, CO: Black Forest Brewing Company hoping to open on March 24 ...Click here
Brewery news USA, TX: Wichita Falls Brewing nearing opening in Wichita Falls ...Click here
Brewery news USA, DE: Mispillion River Brewing to launch new brewpub in Milford ...Click here
Brewery news USA, TX: Roughhouse Brewing to open in San Marcos next year ...Click here
Brewery news USA, PA: Cinderlands Beer Co. to open second brewpub in Lawrenceville ...Click here
Brewery news USA, MN: NorthGate Brewing announces sudden closure ...Click here
World News
Brewery news Australia: Australians consumed less beer and wine last year - research ...Click here
Brewery news World: AB InBev CEO believes in increased sales volume of low- and no-alcohol portfolio by 2025 ...Click here
Barley news Australia: Massive shortage of feed barley makes premium for malting quality disappear ...Click here
Barley news Ukraine: Analysts raise forecasts for Ukraine barley area, production, exports ...Click here
Brewery news South Korea: Hite Jinro decides not to sell brewery, produce soju there instead ...Click here
Brewery news Singapore: ThaiBev kept at ‘buy’ ahead of anticipated recovery in consumption ...Click here
Brewery news The Philippines: San Miguel Corp. rolls out P30 bln multi-tenor retail bond offering ...Click here
Graph of the Week


Table of the Week

US Beer Sales, Import, and Export 2013 - 2017s


Table of the week.

Prices Evolution

Prices evolution

Barley Prices



Theoretical Malt Prices



These Days in Business History


05 March
1558 - Smoking tobacco introduced in Europe by Francisco Fernandes
1868 - Stapler patented in England by C. H. Gould
1924 - Computing-Tabulating-Recording Corp becomes IBM

06 March
1899 - "Asprin" patented by Felix Hoffmann
1926 - Alan Greenspan, future chairman of the Federal Reserve, is born in New York City
1959 - At a press conference in New York City, Texas Instruments executives demonstrate a new device invented by one of the company's top engineers, Jack S. Kilby - the "integrated circuit"

07 March
1876 - 1876 Alexander Graham Bell receives U.S. Patent for his "Improvement in Telegraphy"
1878 - The Toronto Stock Exchange is incorporated
1932 - Thousands of Ford Motor Co. workers stage a "Hunger March" to the immense River Rouge factory complex, protesting Henry Ford's decision to cut the company's minimum wage from $7 per day to $4 per day


Agenda


March 2018:
05-07: 105th Brewing and Engineering Conference (Munich, Germany)
06-08: Expo Antad & Alimentaria Mexico 2018 (Mexico City, Mexico)
07-10: Festival Brasileiro de Cerveja 2018 (Blumenau, Brazil)
08-10: Alltech Craft Brews & Food Fair 2018 (Dublin, Ireland)
14-15: BeerX 2018 (Sheffield, UK)
16-18: Barcelona Beer Festival 2018 (Barcelona, Spain)
19-22: IBD Asia Pacific Convention 2018 (Wellington, New Zealand)


April 2018:
08-12: International Malting and Brewing Symposium "13th Trends in Brewing" (Ghent, Belgium)
13-14: Helsinki Beer Festival 2018 (Helsinki, Finland)
28-29: Zythos Beer Festival 2018 (Leuven, Belgium)
30-03 May: Craft Brewers Conference & BrewExpo America 2018 (Nashville, USA)


May 2018:
16-18: Craft Beer China 2018 (Shanghai, China)
22-24: Beer 2018 (Sochi, Russia)
23-27: Latvia Beer Fest 2016 (Riga, Latvia)
31-02 June: Copenhagen Beer Festival 2018 (Copenhagen, Denmark)


June 2018:
06-09: Mondial de la Biere 2018 (Montreal, Canada)
07-08: The Brewers of Europe Forum 2018 (Brussels, Belgium)

10-13: ASBC Malt Flavor and Aroma Symposium 2018 (Roseville, MN, USA)
20-22: Sea Brew 2018 (Manila, Philippines)
29-01 July: Mondial de la Biere 2018 (Paris, France)


August 2018:
03-05: The 22nd International Berlin Beer Festival (Berlin, Germany)
07-11: The Great British Beer Festival 2018 (London, UK)
08-11: Vietfood & Beverage 2018 (Ho Chi Minh City, Vietnam)
10-11: Beervana 2018 (Wellington, New Zealand)
12-15: Brewing Summit 2018 (San Diego, USA)


September 2018:
04-06: food & drink technology Africa (fdt Africa) (Johannesburg, South Africa)
12-14: 6th International Symposium for Young Scientists and Technologists in Malting, Brewing and Distilling (Bittburg/Trier, Germany)
20-22: The Great American Beer Festival 2018 (Denver, USA)
22-07 October: Oktoberfest 2018 (Munich, Germany)


October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)


November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)


More events are available on site e-malt.com

News Articles


Brewery news USA: Beer production drops by the highest rate in 14 years last year
Statistics released by the U.S. Treasury bureau that regulates sales of alcohol indicate that, in 2017, beer production in the U.S. dropped by its highest rate in 14 years — 2.75 percent — to its lowest overall volume in at least three decades.

The statistics, published March 1st by the Alcohol Tobacco Tax and Trade Bureau, compile numbers reported directly by all licensed breweries in the U.S. The bureau’s statistics show brewers reported producing just over 185 million barrels in the 2017 calendar year, a nearly 5 million barrel drop from the roughly 190 million barrels produced in 2016.

According to archival bureau reports, annual U.S. beer production has not stood below 190 million barrels per year since prior to 1986, its earliest annual records currently published online. While annual production surpassed 200 million barrels several times in the 1990s, it's reached that number just once this century — in 2002 — before correcting with a 2.8 percent drop the following year, to 195 million barrels.

The numbers have fluctuated since, but trended down, including a 2.1 percent drop in 2013. They have been relatively stagnant since 2014.

These figures reflect all beer produced in the U.S., including both legacy macro-beer producers such as ...More info on site


Brewery news Canada, AB: Alberta brewers push for open beer borders between provinces
The wine war between Alberta and British Columbia may be over, but Alberta craft beer makers are now ready to tackle a long-standing trade issue in Canada: exporting to other provinces, CBC.ca reported on March 2.

With 75 brewers, craft beer now makes up 15 per cent of the market in Alberta.

Terry Rock, executive director of the Alberta Small Brewers Association, said brewers feel they're being blocked by other provinces and the reasons and motivations aren't clear.

"It's quite opaque," Rock said. "This is part of our challenge. We just know the results that we're getting and we feel the need to get to the bottom of it."

The obstacles are familiar to Neil Herbst, co-owner of Edmonton's popular Alley Kat Brewing company. Herbst said he applied to get listed in B.C. several years ago.

"They managed to keep us on a string, so to speak, for about a year before we even got anywhere," Herbst told CBC News. "By that time, we were sort of exhausted."

In 23 years of brewing, Herbst has only sold across the Alberta border to a special-interest buyer in neighbouring Saskatchewan.

Compared to other provinces, Alberta has a completely open listing system. The province doesn't get involved in deciding what ...More info on site


Brewery news USA: MillerCoors warns of beer price hikes and job losses if president follows through on new tax on imported aluminium
MillerCoors says beer prices could rise and workers could lose their job if the president follows through on a new tax on imported aluminium, ABC15 Arizona reported on March 2.

President Donald Trump announced on March 1 he’s planning to impose steep tariffs on foreign steel and aluminum to protect the U.S. industry from unfair competition.

In a statement, MillerCoors called it “misguided” and says there isn’t enough domestic supply to meet the demand for its products.

House Speaker Paul Ryan said on March 1 he hopes the president, “will consider the unintended consequences of the new taxes."


Brewery news Canada, ON: Sleeman Breweries to resume brewing in Guelph
Sleeman Breweries in Guelph, Ontario is bringing some of its production home thanks to a C$7-million investment, Globalnews.ca reported.

The company announced on March 5 it will spend C$6.6 million, and the provincial government will chip in C$422,000, to enable Hanlon Parkway facility to brew and package beer that’s currently being produced in the United States.

“This funding will support our capacity to create jobs as well as drive exports and innovation on our brands to ensure continued growth and a vibrant, sustainable future for years to come,” said the founder of Sleeman Breweries, John Sleeman.

Sleeman plans to expand its packaging capabilities, upgrade its equipment and purchase new beer tanks. It also plans to produce 710 millilitre-tall cans for select brands.

The investment will help create 15 new jobs in Guelph and retain 412 positions, Sleeman said.

“This production expansion, supported with a provincial investment, is another chapter in Sleeman’s remarkable success story,” said Mayor Cam Guthrie.

Sleeman is Canada’s third largest brewing operation. More than 20 different brands are brewed year-round in Guelph.


Brewery news USA, CO: Black Forest Brewing Company hoping to open on March 24
Slowly but surely, Black Forest Brewing Company is approaching its opening date. The brewery’s sign went up on Feb. 23, and the owners are hoping to open the weekend of March 24, the Colorado Springs Independent reported on March 1.

It’s a small brewery — they can only brew a barrel and a half, or 46.5 gallons of beer, at a time, so they’ve been stocking up on ready-to-tap kegs for some time. It’s been a slow process with more infrastructural challenges than they would have faced had they built elsewhere in the region.

“Out in Black Forest, there’s no sewer system, so we’ve had to go through the County and the State for our wastewater testing,” says brewer Donovan Routsis, who also co-owns the brewery with wife/manager Tara. It’s Routsis’s first gig as a professional brewer — he retired from the Air Force in September of 2017 — but he’s been homebrewing since 1993, and he and Tara have been training with Paul and Teresa Vieira and Mike Hagan of Peaks N Pines brewery.

While the brewery has a German aesthetic, that doesn’t carry over to the beer. Mostly, they’ll be brewing ales, though Routsis does plan to try his ...More info on site


Brewery news USA, TX: Wichita Falls Brewing nearing opening in Wichita Falls
Matt Bitsche and Russ Reynolds have been working for over a year to open Wichita Falls Brewing Company at in Wichita Falls. It's finally nearing completion, KAUZ-TV reported on March 3.

They've even begun brewing their own beer and will have 30 on tap.

"When most people are sleeping at night, I'm thinking about beer," Bitsche said. "When I get up in the morning, I'm thinking about beer and what I'm going to make."

Bitsche and Reynolds have a passion for beer.

"It's not really about drinking at all," Reynolds said. "It's about the science, the art, and bringing those two together in a way that you hopefully come out with a product you anticipated."

They also have a passion for downtown.

"I wore my downtown proud shirt that I bought at the farmers market today and it's currently covered in about a gallon of brewers yeast. So I had to change," Reynolds joked. "Every time we hear rumors about a new business wanting to open up or an actual opening, we are always really excited. So we need to get open."

It's why they're thrilled to finally be brewing after over a year or construction.

"Of course that's been a huge milestone in our entire project," ...More info on site


Brewery news USA, DE: Mispillion River Brewing to launch new brewpub in Milford
With the lease still unsigned, Mispillion River Brewing’s co-owner Eric Williams would not spill the beans on Mispillion River Brewpub's exact location, but says it will be in Milford on Del. 1, the Delaware Online reported on March 2.

"If it's a parking lot, come in for a pint and some lobster macaroni and cheese," Williams says of his heavily trafficked spot. "The location comes with a hefty price, but we chose wisely."

Adds Mispillion marketing head Lauren Bigelow: "We've spent the past couple of years looking for the exact right spot for it here in Milford and it finally became available. People won't be able to miss it."

With an industrial decor of glass, wood, metal and concrete, the planned brewpub will do more than service beachgoers and their growing hardcore base of fans.

This place for everyone — even your teetotaling Aunt Maria who makes a face anytime she hears you order Mispillion's Reach Around IPA.

"If you come to my tasting room, you're there for craft beer. This is different," Williams says. "It will showcase that we're not just one-sided with a production brewery. We're more than that."

The estimated 9,000-square-foot brewpub will be able to seat about 200 people — more ...More info on site


Brewery news USA, TX: Roughhouse Brewing to open in San Marcos next year
San Marcos will be getting a new rustic Texas brewery next year in the form of Roughhouse Brewing, The Community Impact reported on March 4.

Founders and husband-and-wife Davy and Alex Pasternak have already started construction on the brewery, which will take up about five acres of a 50-acre ranch off RR 12, down the street from Middleton Brewing.

The family ranch, which Davy’s parents purchased as a retirement home, is peaceful and surrounded in nature, much like Roughhouse Brewing will be, Alex said.

The name Roughhouse Brewing has two meanings—a playful, familial aspect on the one hand, and a rough, rustic feeling on the other.

She said the brewery is meant to showcase their love for Texas and what the Texas palate means for them. The production site and taproom will be located in a rustic barn complete with a covered patio and loft. Alex said it will have a “winery-inspired” feel to it.

“We definitely want it to be an onsite experience,” she said.

Davy, who graduated from the University of Texas with a mechanical engineering degree, found his love of breweries at Blue Owl Brewing in East Austin, where he helped with its inception before serving as head brewer and manager of the ...More info on site


Brewery news USA, PA: Cinderlands Beer Co. to open second brewpub in Lawrenceville
Everything about Cinderlands Beer Co. is small and handmade with care: the beers, the food, the snug, lovingly-restored storefront on Butler Street in Lawrenceville, the NEXTpittsburg reported on March 4.

But the beer company will soon open a second brewpub in a much bigger space, formerly occupied by Spaghetti Warehouse, in the Strip District.

Right now, it’s a pile of bricks and rubble with only a few walls remaining. “That was all that was salvageable,” says owner Jamie Warden. “The rest of the building was falling down. Our goal is to use as much brick and woodwork from it as possible.”

The current Butler Street Cinderlands, which opened in late November last year, seats up to 80 or so and is often packed. On warmer days, like a recent Tuesday in February, the front window opens to become a bar with four barstools attached.

The new spot will hold a lot more, with 300 seats. That’s two separate breweries in two adjacent neighborhoods, just 11 blocks apart.

“We run through beer quickly,” explains Warden. “So we can experiment with a lot of new things. We’ll have several taps that are coffee and tea-inspired and more wild styles, sour beers, farmhouse saisons.

For the ...More info on site


Brewery news USA, MN: NorthGate Brewing announces sudden closure
Sad news for beer fans in northeast Minneapolis – NorthGate Brewing has closed, gomn.com reported on March 1.

The company announced its sudden closure with a brusque message on March 1 on Facebook, citing "unforeseen circumstances" behind the closure.

"So long, and thanks for all the fish," it signs off – which if you didn't know is a nod to "The Hitchhiker's Guide to the Galaxy."

As MPR notes, the owners had indicated that they were ready to sell the business on Harding Street NE back in December.

The company started in 2012 under the ownership of homebrewers Adam Sjogren and Todd Slininger, bringing on head brewer Tuck Carruthers a short time later.

It served its first pint at Grump's Northeast in January 2013 and in October 2014 moved from its small, 780-square-foot space to its current location.


Brewery newsAustralia: Australians consumed less beer and wine last year - research
Speaking to National Liquor News for its 2018 Leaders Forum issue, Roy Morgan Research analysts have revealed which categories and trends Australia’s legal age ...More info on site


Brewery news World: AB InBev CEO believes in increased sales volume of low- and no-alcohol portfolio by 2025
AB InBev CEO Carlos Brito believes 20% of the company’s sales volumes will come from its low- or no-alcohol portfolio by 2025.

In a conference call following the release of AB InBev’s full-year results, Brito shed light on the company’s strategy to expand sales and appeal to consumers who want to limit their alcohol intake, FoodBev.com reported on March 2.

He said that now around 8% of the company’s volumes came from its low- or no-alcoholic lines. “We want to get to 20% by 2025. So we’re not starting from zero, quite the opposite. The big thing that will accelerate this, in my view, is two things.

“First, the category expansion model because it’s showing us there are opportunities in adjacencies, easy drinking and flavored liquids, that we can explore.

“And the second one is that now we already have five of our main countries in which NABLAB, or non-alcohol beer and low-alcohol beer, represents more than 20% and in some even 30%.”

Brito drew attention to the higher margins of the NABLAB sector. “I think this is going to be a big motivation for our people because they’re going to be inspired.

“There is a toolkit to be shared with other countries. Again, so we’re ...More info on site


Barley newsAustralia: Massive shortage of feed barley makes premium for malting quality disappear
The premium for Australian malting barley has vanished as demand for feed barley surges, The Weekly Times reported on March 6.

Feed 1 delivered to ...More info on site


Barley newsUkraine: Analysts raise forecasts for Ukraine barley area, production, exports
Analyst UkrAgroConsult on March 6 raised its forecast for Ukraine's 2018 wheat crop by 4.8 percent to 26.3 million tonnes mostly due to a ...More info on site


Brewery news South Korea: Hite Jinro decides not to sell brewery, produce soju there instead
Hite Jinro Co., South Korea's second-largest beer maker by sales, said on March 7 that it will produce the local distilled liquor soju at one of its beer factories as it abandons a plan to sell off the plant, the Yonhap News Agency reported.

The brewer said part of the production line is being retrofitted to make soju at its beer factory in Masan, an industrial city located some 400 kilometers southeast of Seoul.

The company aims to produce soju at its beer plant by the end of this year.

"We made the decision to meet growing demand for soju and to resolve the local community's concerns about possible job cuts," company spokeswoman Nho Eun-jung said.

Soju, a rice-based liquor, is popular among South Koreans.

The beer factory in Masan employs about 200 people, according to the company.

Hite Jinro sells 150 million bottles of soju per month, making it the largest soju maker in South Korea. The company has three soju plants and three separate beer factories in South Korea.


Brewery news Singapore: ThaiBev kept at ‘buy’ ahead of anticipated recovery in consumption
OCBC Investment Research is keeping its “buy” call on Thai Beverage ahead of an anticipated recovery in consumption for the rest of FY18, The Edge Singapore reported on March 5.

This comes despite ThaiBev’s 1Q18 results coming in below expectations, and an elevated gearing ratio following the group’s recent acquisition spree.

ThaiBev saw its earnings fall 62% to THB2.91 billion ($122 million) in the 1Q ended December, mainly due to one-off expenses of THB2.35 billion related to acquisitions in this quarter and finance costs linked to the Sabeco acquisition.

Total revenue dipped 3% to THB45.97 billion, with a slower-than-expected market recovery after the mourning period, as well as an increase in packaging costs, advertising and promotion expenses, and personnel expenses.

“While demand for spirits and beer were soft in 1Q18, we expect recovery in consumption for the rest of FY18,” says lead analyst Eugene Chua in a report on March 5.

According to Chua, the recovery will be on the back of the recent extension in the Songkran holiday to five days, as well as the FIFA World Cup 2018 tournament, which is expected to lift alcohol consumption with compatible match timings for viewers in Asia.

“Over the longer-term, we deem ThaiBev’s acquisition of the largest ...More info on site


Brewery news The Philippines: San Miguel Corp. rolls out P30 bln multi-tenor retail bond offering
Conglomerate San Miguel Corp. rolled out on March 5 a multi-tenor local retail bond offering worth as much as P30 billion, proceeds from which will be used to refinance debt and invest in various businesses, the Inquirer reported.

The bonds were priced to yield 6.25 percent per annum for the five-year tenor, 6.625 percent for the seven-year tenor and 7.125 percent for the 10-year tenor, SMC disclosed to the Philippine Stock Exchange on March 5.

The offer will run until March 9 and listed on the Philippine Dealing & Exchange Corp. on date of issuance on March 19.

The base offer size is P20 billion but SMC has the option to upsize the offering by another P10 billion.

SMC received from the Securities and Exchange Commission permit to sell these securities on March 2.

The bonds will be issued in scripless form in minimum denominations of P50,000 each and in multiples of P10,000 thereafter.

Seven big banks are managing the offering: BDO Capital & Investments Corp., BPI Capital Corp., Chinabank Capital, First Metro Investments Corp., ING, SB Capital and Standard Chartered.

Local credit watcher Philippine Rating Services Corp.(PhilRatings) has assigned a triple-A rating on this new issuance, which represents the third tranche of SMC’s three-year debt securities ...More info on site


Copyright © E-Malt s.a. 2018