FIGARO Coffee Co. plans to raise as much as P100 million in a bond issue later this year, a source privy to the floatation told the BusinessMirror. Companies are now trying to take advantage of low interest rates by tapping loans, considering that the yield of the benchmark 91-day Treasury bills—a bellwether for lenders—has gone below 3 percent.

The source said the company wants to use proceeds from the bond float to open new stores and provide coffee farmers in Amadeo, Cavite, with much needed capital.

“That’s the plan of the company. However, the terms [for the bonds] are still being evaluated,” the source said.

Figaro earlier said it plans to go public in 2008 by listing its shares with the Philippine Stock Exchange. Pacita Juan—one of Figaro’s major owners—said in an interview that the company was still studying the market.

“Certainly, the direction is to go public,” she said. “We are still in the initial stages of preparation, though.”

Figaro currently operates 41 coffee shops in the country. It has branches in Shanghai, China and the United Arab Emirates. The company is also eyeing to put up stores in Japan, Sweden, Taiwan, Denmark and Germany.

Figaro is known as the first Filipino coffee shop to use homegrown coffee. The company was established in 1993 by a group of seven friends, whose love for coffee was acquired from their travels all over the world. The first Figaro store opened in November that same year.

The source said that sales last year was below P300 million. This year the company is eyeing higher revenues, though lower than P500 million. No other figures were given.

PHILIPPINE stocks fell as some investors judged a jump in the key index last week to a 10-year high was excessive. JG Summit Holdings Inc. led declines among shares that had climbed the most recently.

FIGARO Coffee Co. plans to raise as much as P100 million in a bond issue later this year, a source privy to the floatation told the BusinessMirror. Companies are now trying to take advantage of low interest rates by tapping loans, considering that the yield of the benchmark 91-day Treasury bills—a bellwether for lenders—has gone below 3 percent.

Synnex Corp., a US-based information technology concern, has acquired Philippine-based business process outsourcing (BPO) company Link2Support Inc. (L2S), setting the tone for its aggressive expansion over the next two years.

EASTERN Telecommunications Philippines Inc. (ETPI) wants its interconnection access with the network of Digital Telecommunications Phils. Inc. (Digitel) unblocked so that its dialup customers can use their prepaid Internet subscription.

PHILIPPINE National Construction Corp. (PNCC), a government-controlled corporation, is listed on the Philippine Stock Exchange. It has hundreds of stockholders whose shares are lodged with the Philippine Depository Inc. through PCD Nominee Corp., which, in turn, holds the shares traded through various trading participants or stockbrokers.