SMC Global Power Lists PhP 30 Billion Fixed Rate Bonds on PDExPosted on: April 24, 2019
24 April 2019, Makati Philippines – The local debt market welcomed again SMC Global Power Holdings Corp. (SMCGP) for the listing of its PhP 30 Billion three, five, and seven-year fixed rate bonds – the first tranche of its approved PhP 60 Billion shelf-registration.
PDS Group President Ma. Theresa B. Ravalo expressed her delight on the yearly issuance and listing of SMCGP since its debut three years ago. “The oversubscription of this issuance, it is a testament that the SMCGP corporate name that it is able to tap the market in a sizeable amount amid competition from large issues of financial institutions.”
SMCGP General Manager Elenita D. Go remarked: “The funds provided by these Bonds come at an opportune time as our country faces the daunting challenge of ensuring that adequate and affordable supply of power is available to meet our constantly growing demand.”
“SMC Global Power stands ready to take on these challenges, and pursue a business model and an expansion strategy, all within a culture of excellence and innovation, that not only supports the Government’s national and regional energy policies and needs, but also unequivocally show that there are better ways of conducting day-to-day business operations in a socially and environmentally responsible manner,” Ms. Go added.
The month of April generated a stream of issuances from various industries, from banking to real estate and with this eighth listing, power generation. Year-to-date listings amount to PhP 116.82 Billion, a 152% increase year-on-year.
SMCGP’s fourth listing to the PDEx bourse raises its portfolio of listed securities to PhP 80 Billion which brings the total listing of the San Miguel Group to PhP 209.30 Billion, representing 18% of the total PhP 1.14 Trillion volume of outstanding securities listed on PDEx.
The event was attended by San Miguel Corporation Senior Officers including SMC Chief Finance Officer Ferdinand Constantino, SMC Head of Treasury Sergio Edeza, and SMCGP General Manager Elenita Go and Chief Finance Officer Paul Causon. The Issue Underwriters present were BDO Capital & Investment Corporation Senior Vice President Gabriel Lim, BPI Capital Corporation President Reginaldo Anthony Cariaso, China Bank Capital Corporation President Ryan Martin Tapia, PNB Capital and Investment Corporation President and CEO Gerry Valenciano, RCBC Capital Corporation President and CEO Jose Luis Gomez, SB Capital Investment Corporation President Noel Dayrit. #