AMA mulls dollar bond flotation

After signning an agreement with the First Metro Investment Corp. for a so-called P1.5-billion IT bond float, the AMA Group of Companies is now looking at another bond issuance, this time denominated in dollars.

In a press briefing yesterday, AMA Computer University chairman Amable R. Aguiluz V said they are looking at a dollar-based bond flotation to finance the company’s international expansion program.

Aguiluz said they plan to open two schools annually.

"We already have schools in Bahrain, Hong Kong, and Vietnam," he told business reporters in a press briefing yesterday. Other targets are China, Laos, and Cambodia.

AMA’s expansion plan goes beyond computer education. In Bahrain, AMA hopes to build a hospital in its five-hectare property in Central Manama.

Aside from computer-oriented schools, AMA is licensed to operate medical schools.

First Metro Investment senior vice president Roberto Juanchito T. Dispo said the dollar-denominated bond float will be undertaken through an international syndicate.

"We want the entry of foreign fund managers as they have the expertise for international bond issuance," Dispo added.

Yesterday, AMA and First Metro finalized an agreement for a P1.5-billion IT (information technology) bond issue, a first of its kind in the Philippines.

"For AMA, the P1.5 billion bond float is just to test the appetite of the capital markets," Dispo said. "They are looking for bigger capital-raising activities in the future," he added. – Ted Torres