LAGUNA, PHILIPPINES – Cirtek Holdings Philippines has reissued P545.2 million (US$11.4 million) worth of bonds to refinance its short-term debt and support the capital spending of its US-based unit, Quintel USA, according to reports.

The EMS firm listed the debt at the Philippine Dealing and Exchange Corp. The bonds will mature on Feb. 18, 2021. The SEC provided a permit in February for the firm to sell securities.

Cirtek said its board approved the sale of up to 33 million preferred shares to be offered for $1 each.

In July, Cirtek also listed P494 million of debt on PDEx.

Quintel USA reportedly seeks to participate in 5G deployment in the US by selling antennas.

Ed.: P1 = US$0.02

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