Business

Lucio Co seeks up to P12B in new funding to fund Puregold, S&R expansion

Grocery chain operator Puregold Price Club Inc. is raising as much as P12 billion from the fresh issuance of debt notes to lock in long-term funds at low interest rates.

Proceeds from the offering will be used to accelerate the opening of more Puregold and S&R stores in strategic areas in order to continue to provide basic goods and essential products to a wider market.

The group has a total of 444 stores across the country

China Bank Capital Corp. has been tapped as the lead arranger and underwriter and sole bookrunner for the proposed transaction.

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