+ Follow FINANCE UNDERSECRETARY JOEL BA Tag
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 98679
[Title] => Tan, gov’t near deal on PNB shares
[Summary] => Beer and tobacco magnate Lucio Tan has reportedly agreed to sign a "put and call" agreement with the government that basically ties him down to buy the government’s shares in the Philippine National Bank two years from now at P91 per share, if the government still has not been able to dispose of its shares by that time.
At the same time government also retains the "call" option to buy back the same shares two years from now at P60 per share plus a 13-percent carrying cost if the bank is successfully turned around and becomes viable.
[DatePublished] => 2000-10-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 101091
[Title] => WB agrees to release funds for bank reforms
[Summary] =>
The World Bank has agreed to release the second tranche of the Bank Sector
Reform Loan (BSRL) following the agreement between the National Government and
business tycoon Lucio Tan to sell their shares in Philippine National Bank
(PNB) as a block, Finance Undersecretary Joel Bañares said yesterday.
He clarified that the "actual sale of PNB is not the conditionality for the
release of the second tranche, but rather the move toward privatization of the
former government financial institution."
With an agreement to sell as a block, Bañares said, the World Bank has
[DatePublished] => 2000-03-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 101053
[Title] => RP to borrow $1.7 B this year
[Summary] =>
The Philippine government wants to increase its borrowings to $1.9 billion this
year, from $1.7 billion last year, according to Finance Secretary Jose T.
Pardo.
The government is about to secure $1.7 billion through a Global bond offering,
which has reportedly been oversubscribed by $750 million.
Of the $1.7 billion, Pardo said, $700 million will be used to fund the National
Government's expenditures, $500 million for new money and $500 million for
restructuring old debt papers of the National Power Corp.
[DatePublished] => 2000-03-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 100881
[Title] => Pardo bucks repeal of oil lib law
[Summary] =>
Repealing the Oil Deregulation Law will be a step backward and may constitute a
violation of some of the country's covenants with international creditors,
according to Finance Secretary Jose T. Pardo.
Pardo was reacting to a threat by Congress that it will repeal the law unless
local oil companies moderate their oil price increase. Pardo said such a move
will be like "turning back." Unfortunately, Pardo said: "We cannot bring it
back.
[DatePublished] => 2000-02-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 100797
[Title] => Gov't to issue P6-B privatization bonds
[Summary] =>
The government has scheduled for April the issuance of privatization
certificates worth anywhere from P4 billion to P6 billion.
This was revealed yesterday by Finance Undersecretary Joel Bañares who
said the certificates will help the government meet its projected budget
deficit of P62.5 billion this year.
The privatization certificates are represent borrowings which are convertible
to equity in any of the following government assets. The government's
remaining stake in the Manila Electric Corp., the Philippines National
Construction Corp.
[DatePublished] => 2000-02-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 101422
[Title] => NG to issue P4-B convertible bonds
[Summary] =>
The National Government is hoping to raise at least P4 billion through the
flotation of five-year convertible bonds.
Finance Undersecretary Joel Bañares said the bonds, will be convertible
to equity in any of the government-owned or controlled corporations, except in
the Philippine National Bank which the government is set to privatize in April
or June.
Bañares said that while the government hopes to generate at least P4
billion from the flotation of the convertible bonds, the amount can go higher
if there are more interested investors.
The flotation of th
[DatePublished] => 2000-01-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 101375
[Title] => WB seeks assurance on PNB auction
[Summary] =>
The World Bank is reportedly seeking an assurance from the Philippine
government that taipan Lucio Tan's acquisition of a 48- percent stake in
Philippine National Bank (PNB) did not violate any banking laws, that
government would conduct a fair and transparent bidding of its remaining shares
in PNB and that there would be no bias or cronyism involved in the
privatization of PNB.
The World Bank has dispatched a representative to meet with new Finance
Secretary Jose T.
[DatePublished] => 2000-01-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
FINANCE UNDERSECRETARY JOEL BA
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 98679
[Title] => Tan, gov’t near deal on PNB shares
[Summary] => Beer and tobacco magnate Lucio Tan has reportedly agreed to sign a "put and call" agreement with the government that basically ties him down to buy the government’s shares in the Philippine National Bank two years from now at P91 per share, if the government still has not been able to dispose of its shares by that time.
At the same time government also retains the "call" option to buy back the same shares two years from now at P60 per share plus a 13-percent carrying cost if the bank is successfully turned around and becomes viable.
[DatePublished] => 2000-10-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 101091
[Title] => WB agrees to release funds for bank reforms
[Summary] =>
The World Bank has agreed to release the second tranche of the Bank Sector
Reform Loan (BSRL) following the agreement between the National Government and
business tycoon Lucio Tan to sell their shares in Philippine National Bank
(PNB) as a block, Finance Undersecretary Joel Bañares said yesterday.
He clarified that the "actual sale of PNB is not the conditionality for the
release of the second tranche, but rather the move toward privatization of the
former government financial institution."
With an agreement to sell as a block, Bañares said, the World Bank has
[DatePublished] => 2000-03-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 101053
[Title] => RP to borrow $1.7 B this year
[Summary] =>
The Philippine government wants to increase its borrowings to $1.9 billion this
year, from $1.7 billion last year, according to Finance Secretary Jose T.
Pardo.
The government is about to secure $1.7 billion through a Global bond offering,
which has reportedly been oversubscribed by $750 million.
Of the $1.7 billion, Pardo said, $700 million will be used to fund the National
Government's expenditures, $500 million for new money and $500 million for
restructuring old debt papers of the National Power Corp.
[DatePublished] => 2000-03-13 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 100881
[Title] => Pardo bucks repeal of oil lib law
[Summary] =>
Repealing the Oil Deregulation Law will be a step backward and may constitute a
violation of some of the country's covenants with international creditors,
according to Finance Secretary Jose T. Pardo.
Pardo was reacting to a threat by Congress that it will repeal the law unless
local oil companies moderate their oil price increase. Pardo said such a move
will be like "turning back." Unfortunately, Pardo said: "We cannot bring it
back.
[DatePublished] => 2000-02-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 100797
[Title] => Gov't to issue P6-B privatization bonds
[Summary] =>
The government has scheduled for April the issuance of privatization
certificates worth anywhere from P4 billion to P6 billion.
This was revealed yesterday by Finance Undersecretary Joel Bañares who
said the certificates will help the government meet its projected budget
deficit of P62.5 billion this year.
The privatization certificates are represent borrowings which are convertible
to equity in any of the following government assets. The government's
remaining stake in the Manila Electric Corp., the Philippines National
Construction Corp.
[DatePublished] => 2000-02-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 101422
[Title] => NG to issue P4-B convertible bonds
[Summary] =>
The National Government is hoping to raise at least P4 billion through the
flotation of five-year convertible bonds.
Finance Undersecretary Joel Bañares said the bonds, will be convertible
to equity in any of the government-owned or controlled corporations, except in
the Philippine National Bank which the government is set to privatize in April
or June.
Bañares said that while the government hopes to generate at least P4
billion from the flotation of the convertible bonds, the amount can go higher
if there are more interested investors.
The flotation of th
[DatePublished] => 2000-01-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 101375
[Title] => WB seeks assurance on PNB auction
[Summary] =>
The World Bank is reportedly seeking an assurance from the Philippine
government that taipan Lucio Tan's acquisition of a 48- percent stake in
Philippine National Bank (PNB) did not violate any banking laws, that
government would conduct a fair and transparent bidding of its remaining shares
in PNB and that there would be no bias or cronyism involved in the
privatization of PNB.
The World Bank has dispatched a representative to meet with new Finance
Secretary Jose T.
[DatePublished] => 2000-01-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1805266
[AuthorName] => Marianne V. Go
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
