MVP set on expansion

MVP Group of Companies media bureau chief Mike Toledo called Spy Bits to share their elation at the successful outcome of First Pacific’s inaugural 10-year international bond offering which raised $400 million. Mike, who is also Philex Mining’s SVP for corporate affairs, told us the bond transaction issued by FPC Treasury Ltd. (a unit of First Pacific) was very well received, with a final book order of over $3 billion registered from several high quality accounts.

The final order is equivalent to an oversubscription of 7.5 times. According to HSBC which managed the transaction, there was a strong momentum early on with high interest from both onshore and international Asian investors as well as European accounts. The books were covered within an hour of announcement of the initial price guidance, with Asian investors accounting for 84 percent of the total $3.1 billion book order while the other 16 percent came from European investors. 

More likely than not, the successful maiden 10-year bond offering of First Pacific is only a taste of things to come, with MVP’s holding firm (whose principal business interests include telecoms, infra, mining, food, power and other industries) preparing for more acquisitions and expansion in the very near future. 

Much earlier, MVP had disclosed plans to hike Metro Pacific’s capital expenditures to over P36 billion this year in support of expansion for its various units.  This is much higher than the previous P27.2 billion the company spent last year. 

MOPC 4th golf invitational draws diplomats, businessmen

The Manila Overseas Press Club successfully held its 4th invitational golf tournament with US Ambassador Harry Thomas, Japanese Ambassador Toshinao Urabe, Singapore Ambassador VP Hirubalan and Indonesian Ambassador Y. Kristiarto Legowo (seen in the photo) as special guests of honor. 

The tourney held at the Sta. Elena Golf Club in Laguna brought together diplomats, businessmen and members of the media for a day of friendly competition with part of the proceeds to be used for MOPC projects and educational assistance to college scholars who will be taking up journalism.

The event was made successful thanks in large part to the numerous sponsors who gave their support, with SMART/PLDT, Metro Pacific Investments Corp. and the MVP Group of Companies as the main sponsor. Other sponsors were San Miguel Corp., Philippine Amusement and Gaming Corp., Philex Mining, Meralco, Maynilad, Petron Corp., Ayala Land Inc., Cats Motors, Inc., Bangko Sentral ng Pilipinas, Total Philippines, Unilab, Development Bank of the Philippines, Philippine Airlines, Universal Robina Corp., Weber Shandwick-Manila, PeopleAsia magazine, Biznews Asia magazine and Ayala Corp.

Ultimate driving experience with Mercedes Benz

Felix Ang’s Cats Motors, Inc., the exclusive distributor of Mercedes-Benz in the Philippines, brought in driving experts from Australia for the Mercedes-Benz Driving Experience 2013 recently held at Subic Bay International Airport. Knowing how superior driving skills can make a world of difference for everyone on the road, MB complements state-of-the-art systems with the necessary driving skills to ensure better protection not only for drivers and their passengers but pedestrians as well. 

This exclusive program from the German vehicle manufacturer aims to equip Mercedes-Benz owners with the necessary skills to avoid accidents and manage difficult driving situations as they happen. The Aussie driving instructors (led by one of Australia’s top GT-class racing drivers Peter Hackett with karting standout Jake Fouracre, AUSCAR Rookie of the Year winner and currently Jack Daniels racing team member Nathan Pretty, TV stunt driver and veteran defensive driving trainer Ben Porter, Australian Mini Challenge (Race 2) winner Elliot Barbour and multiple Australian champion Josh Hunt) put the participants through challenging paces and various exercises that placed emphasis not only in the features and capabilities of the vehicles but also on how to best use the electronic assistance systems on board every Mercedes-Benz vehicle in different driving situations and conditions.

Obviously, what sets Mercedes-Benz vehicles apart from the rest are the unparalleled balance of performance, safety and comfort, Cats Motors said, noting that these things are precisely what the Mercedes-Benz driving experience program puts emphasis on.

In the US, data collated by an American insurance firm places the number of deaths in vehicular accidents at over 65,000 in 2010 and 2011 alone. According to authorities, a lot of the accidents are caused by “distracted driving,” with drivers engaged in texting or making cellphone calls while driving. Incidentally, April has been declared the “Distracted Awareness Driving Month.”

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