Travellers to refinance $300 million bond

Travellers International Hotel Group Inc has confirmed that arrangements are being made to refinance the company’s $300 million bond facility which is maturing later this year, according to a Wednesday filing to the Philippine Stock Exchange.

The company was responding to a news report from Business World Online which quoted AGI president Kingson U. Sian saying that Travellers will refinance its bond “with a peso loan.”

“The Company confirms that in response to press queries after the Tuesday (March 29) listing ceremony of Megaworld’s bonds at the Philippine Dealing and Exchange Corp., the company’s president and chief executive officer Kingson U. Sian stated that arrangements are being made to fund the Company’s US$300 million bond maturing late this year with peso-denominated loan facilities,” said the company in a filing on Wednesday.