Megaworld to raise P15B via debt issue

Megaworld Corp., the listed property development company of taipan Andrew Tan, plans to raise P15 billion fresh funds this year from the debt market, taking advantage of the low interest climate, a senior official said.

“We have already covered the capex [capital expenditures] this year and we do not really need to raise debt. But we will raise it because we don’t want to lose the opportunity... The rates are low,” said Jericho Go, Megaworld Senior Vice President.