A subsidiary of Gokongwei-led conglomerate JG Summit Holdings Inc. has repurchased $138.826 million worth of bonds from a wholly-owned offshore unit.
In a regulatory filing, the diversified holding company said subsidiary JG Summit Philippines Ltd., guarantor of 10-year 4.375 percent bonds due 2023, had repurchased an aggregate $138.83 million worth of bonds in the open market.
The bonds issued by JGSH Philippines has a principal amount of $750 million.
Following the repurchase and cancellation, the outstanding principal amount of the bonds has been reduced to $611.174 million.