San Miguel Corporation Raises PHP 30 Billion Fixed Rate Bonds on PDExPosted on: March 4, 2022
04 March 2022, Makati, Philippines — San Miguel Corporation returned to the Philippine Dealing & Exchange Corp. with yet another “jumbo” issuance, for their PHP 30 Billion 5-year and 7-year fixed rate bonds. The Series J and K Fixed Rate bonds carry a coupon rate of 5.2704% and 5.8434%, respectively, to be paid quarterly.
Notably, this issuance is the 6th consecutive oversubscribed listing for PDEx in 2022.
PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “The main factor this year continues to be the significant presence and impact of investors, pouring liquidity in the primary market as evidenced by the consistent levels of oversubscription, and dominating in the secondary market as they account for 65% of total traded volumes thus far.”
Meanwhile, SMC Senior Vice President, Deputy Chief Finance Officer & Head of Treasury Joseph N. Pineda remarked: “While we continue to be challenged by the Covid-19 pandemic, we in San Miguel have never wavered in our commitments and we continue to remain focused on our goals in creating value for our investors, and at the same time helping boost our economic recovery through our growth generating projects.”
This 6th listing for 2022 brings the year-to-date total of new listings to PHP 142.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.40 Trillion issued by 53 companies, comprising of 194 securities.