GIC invests $76m in Philippines canned foods firm
GIC Private has agreed to invest PHP3.4 billion ($76.6 million) in Philippines-based canned foods distributor Century Canning Corporation (CCC). The move comes as CCC’s subsidiary, Century Pacific Foods (CNPF), prepares to go public.
The investment is structured as a one-year exchangeable loan, extendable by both parties, with an annual coupon of 5%. GIC also has the option to exchange both the principal and accrued interest into 245.5...
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