SMC seeks bondholder consent to use NAIA shares as loan collateral - BusinessWorld Online

SMC seeks bondholder consent to use NAIA shares as loan collateral - BusinessWorld Online

By Alexandria Grace C. Magno SAN MIGUEL Corporation (SMC) has initiated a “consent solicitation” to its bondholders to amend the terms of several outstanding bonds, a move aimed at facilitating project financing for its subsidiary, New NAIA Infra Corp., which is undertaking the rehabilitation and operation of the Ninoy Aquino International Airport (NAIA). The company is asking for permission to use shares it owns in its NAIA subsidiary as collat…