Bank of China provides $120 million loan to San Miguel Corporation for unspecified purposes

$120M USD

Funder	Bank of China (BOC)
Recipient Organization	San Miguel Corporation
Country	Philippines
Start Date	Jan 01, 2017
End Date	May 08, 2032
Duration	5,606 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95874`

Grant Description

Bank of China provides $120 million loan to San Miguel Corporation for unspecified purposes On July 30, 2018, San Miguel Corporation used the proceeds from a bond issue to fully repay a $120 million Bank of China loan that it had previously contracted.

📋 Staff Comments

The date on which the $120 million Bank of China loan was contracted is unknown. For the time being, AidData assumes that the loan was contracted in the prior year (2017). However, this issue requires further investigation.
San Miguel Corporation, abbreviated as SMC, is a private, Philippine multinational conglomerate headquartered in Mandaluyong, Metro Manila. The company is one of the largest and most diversified conglomerates in the Philippines. Originally founded in 1890 as a brewery in the Philippines, San Miguel has ventured beyond its core business, with investments in various sectors such as food and drink, finance, infrastructure, oil and energy, transportation, and real estate.

📚 Sources & References

Securities and Exchange Commission Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.