FMIC to clinch P20-B in debt deals before yearend

FMIC president Roberto Juanchito Dispo (left) with Philippine Stock Exchange president Hans Sicat

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MANILA - The investment banking arm of the Metrobank group is working to complete up to P20 billion worth of debt transactions before the end of the year.

Roberto Juanchito Dispo, First Metro Investment Corp. president, said the deals include corporate fundraising of P5-8 billion for a consumer company and another P5 billion for a property firm.

The investment bank also received a mandate from a supranational issuer for a deal amounting to P5 billion with an option to upsize to P7 billion.

FMIC generated P258 million in revenues from its investment banking group in the first half through deals that included SM Prime Holdings' P7.5-billion fixed-rate corporate notes, Filinvest Land's P11-billion fixed-rate bonds, Ayala Corp.'s P10-billion retail bonds, GT Capital Holdings Inc.'s P21.6 billion initial public offering and FP Finance's $200-million term loan.

FMIC registered a consolidated net income of P1.9 billion in the first semester, up 76 percent from the previous year's P1.1 billion.

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