Firms defer fund-raising amid pandemic
Top corporations in the Philippines are postponing major fund-raising plans due to the financial market turmoil and the Luzon-wide lockdown caused by the COVID-19 pandemic.
San Miguel Corp., one of the country's largest conglomerates, has deferred its P60 billion commercial paper offering with the Securities and Exchange Commission (SEC) until conditions stabilize.
The month-long lockdown in Luzon, which makes up about 73 percent of the Philippine economy, will be in effect until April 12.
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