Lucio Co holding firm acquires Laguna property for second community mall

The holding firm of businessman Lucio Co has acquired another property for its planned chain of community malls.

In a disclosure to the Philippine Stock Exchange, Cosco Capital Inc said its subsidiary Ellimac Prime Holdings Inc inked yesterday a deed of absolute sale to purchase a 3,192 square meter lot located at A. Mabini St., Poblacion in Biñan, Laguna.

The newly secured land is the second site of Cosco's community mall after signing a lease contract last Monday for a property in Marikina.

It is also one of as many as four locations that Cosco intends to secure before yearend, allowing the firm to hasten the expansion of its community mall chain.

Cosco had said it plans to build 6-8 community malls in two to three years through organic expansion and acquisition. The commercial centers will carry the brand name Cosco with Puregold as the anchor tenant.

Early this year, Cosco acquired NE Pacific Shopping Centers Corp, the owner of NE Pacific Mall, the largest commercial area in Nueva Ecija.

Formerly Alcorn Gold Resources Inc, Cosco became the holding firm for Co's consumer-focused businesses after a P74.81-billion share-swap transaction. It has interests in retail through Puregold, liquor distribution, oil storage and real estate.

Likewise, Cosco completed the acquisition of Office Warehouse Inc and Liquigaz Philippines Corp to boost its non-food specialty retail business.

- Interaksyon

Lucio Co holding firm raises P5B warchest

The holding firm of businessman Lucio Co completed its maiden debt issuance, the proceeds of which will be used to finance strategic acquisitions.

In a disclosure to the Philippine Stock Exchange, Cosco Capital Inc said it signed a P5 billion notes facility agreement with a syndicate of institutional lenders composed of banks and insurance companies.

The issuance of seven- and 10-year notes was 2.5 times oversubscribed.

First Metro Investment Corp, the investment banking arm of the Metrobank group, acted as sole arranger and book runner for the transaction.

"This notes issuance is indeed a clear confirmation of the financial community's trust and confidence in Cosco. We congratulate First Metro for successfully arranging the deal," said Leonardo Dayao, Cosco president.

Formerly Alcord Gold Resources Inc, Cosco became the holding firm for Co's consumer-focused businesses after a P74.81-billion share-swap transaction. It has interests in retail through Puregold Price Club Inc, liquor distribution, real estate, oil storage and mining.

Early this month, Cosco completed the acquisition of Office Warehouse Inc, marking its maiden foray into non-food specialty retail.

In March, Cosco acquired NE Pacific Shopping Centers Corp, the owner of NE Pacific Mall, the largest commercial area in Nueva Ecija.

 

- Interaksyon

Lucio Co holding firm cleared to raise P5B in debt

The holding firm of businessman Lucio Co was cleared to raise P5 billion from the sale of debt papers.

In a disclosure to the Philippine Stock Exchange, Cosco Capital Inc said it would sell seven-year corporate notes worth P4 billion and 10-year debt worth P1 billion.

The interest rates of the debt papers will be determined on Wednesday.

Cosco has interests in retail through Puregold Price Club Inc, real estate, liquor distribution and oil storage. It is venturing into non-food specialty retail through mergers and acquisitions as well as organic growth.

Formerly known as Alcorn Gold Resources Inc, Cosco became the holding firm for Co's businesses after a P74.81-billion share-swap transaction.

- Interaksyon