SMG Global Power Holdings Corp. Raises PHP 40 Billion Fixed Rate Bonds on PDExPosted on: July 28, 2022
26 July 2022, Makati, Philippines — SMC Global Power Holdings Corp. (SMCGP) returns to the PDEx organized secondary market with yet another “jumbo” issuance of PHP 40 Billion worth of 3, 5.¾, and 10-year bonds, the group’s largest issuance to date. The bonds carry coupon rates of 5.9077% p.a., 7.1051% p.a., and 8.0288% p.a., respectively, to be paid on a quarterly basis.
The ceremony was opened by PDEx President and CEO Antonino A. Nakpil through his welcome remarks. “This month is special as our “Old Guard” conglomerate Issuers have started the second half of 2022 with the largest sized issues in their history and importantly issuing five to ten-year bonds, that is, giving your bondholders the “real stuff”. One may say that is the right way to reaffirm such a valuable relationship with your investors. We also note that your issuances today reached a total of 10,549 holders and congratulate your distribution teams for that remarkable achievement on the inclusion front.”
“Another positive, and this time a counterpart indicator of the continued supply of domestic investor liquidity ready to support the firms funding requirements through debt capital. The same domestic liquidity that will fuel year to date new bond listings to reach PHP 352 Billion by the end of this month. And by which time SMC as a group would have PHP 280 Billion or just over 20.0 % of all the outstanding listed bonds on this exchange, a jumbo suki indeed.”, Mr. Nakpil further added.
SMCGP General Manager Elenita D. Go likewise shared a few words on behalf of the issuer. She remarked: “As SMC Global Power’s commitment to continue its support to the Government in powering the nation, we continue to pursue business and expansion strategies that not only support the Government’s national and regional energy policies and needs, but also demonstrate our commitment to conduct business operations in a socially and environmentally responsible manner.”
This 18th admission for 2022 brings the year-to-date total of new listings and enrollments to PHP 344.62 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.38 Trillion issued by 53 companies, comprised of 191 securities.