MANILA, Nov 28 (Reuters) - Philippine conglomerate JG SummitHoldings Inc said it planned to issue 20 billion pesos($458 million) worth of retail bonds, with an oversubscriptionoption of up to 10 billion pesos, to fund its acquisition ofManila Electric Co shares.
In a filing on Thursday, JG Summit said it hired HSBC, Standard Chartered Bank, BDO Capital andInvestment Corp, BPI Capital Corp and First Metro InvestmentCorp as underwriters.
It gave no other details.
Early this week JG Summit raised 8.8 billion pesos via anaccelerated equity placement to fund its purchase of Meralcoshares.
JG Summit recently agreed to buy a 27.1 percent stake inMeralco, the country's biggest power utility, for 72 billionpesos from Philippine conglomerate San Miguel Corp.