05.05.2014 - GIC to invest in $95.7m in Philippine food company
Singapore sovereign wealth fund GIC has agreed to invest 3.4 billion pesos (S$95.7 million) in Century Pacific Food (CNPF) ahead of the Philippine company's initial public offering (IPO). The move is a "vote of confidence in the Philippine economy's strong long-term fundamentals", GIC said. It also attests to the "value and management capacity" of CNPF and its parent company, Century Canning Corp, it added. Through its private equity arm, GIC will grant Century Canning Corp an exchangeable loan at an interest rate of 5 per cent...............................................Full Article: Source
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