PNX, SMPH

1. Phoenix Petroleum Philippines Inc. has entered into a joint venture, PhilAsphalt, with TIPCO Asphalt Public Co. Ltd. of Thailand and Asphalt Dev’t Corp. to distribute all kinds of Bitumen in the Philippines.

Notes: Phoenix (40%), TIPCO (40%), 20% Carlito B. Castrillo for PhilAsphalt (Dev't.) Corporation (20%)



2. SM Prime Holdings Inc. will launch a new offering of retail bonds worth as much as P20 billion, raising fresh funds to build new malls, department stores and residential condominiums. The offering, which is part of the property firm’s P60 billion shelf registration of fixed-rate bonds approved by the SEC on July 8, 2016.

Notes: Looks like they are using the rising interest rate. The interest rate of the F series of this shelp registration bond  was 4.2005% p.a. Long term fixed rate borrowing...hmmm..