San Miguel Corp., the largest food and beverage group in south-east Asia, is seeking a US$1.2bn loan to refinance existing debt.

The Philippines-based conglomerate gave no other details of its plans in a statement issued to the country's stock market this morning (8 August).

San Miguel, which has leading domestic positions across a range of food and drink sectors, is also looking to invest at least $750m in power, mining, infrastructure and property to boost growth.

Last month, San Miguel said it had started talks to sell a stake in Australia's National Foods Group to Japanese company Kirin Brewery Co.

Kirin, one of Japan's leading brewers, is a long-time partner of San Miguel and owns a 20% stake in the company.

San Miguel bought National Foods two years ago in a deal valued at around A$1.9bn (US$1.6bn).