SMC Lists Final Tranche of Fixed Rate Bonds on PDExPosted on: October 4, 2019
04 October 2019, Makati Philippines — San Miguel Corporation (SMC) listed PHP 10 billion 5-year fixed rate bonds on PDEx, the fourth and final tranche of its PHP 60 billion fixed rate bonds shelf registration program. Proceeds of this issue, with an interest rate of 5.55% paid quarterly, will be used to redeem a preferred share issue, and re-finance loan obligations.
“The funds we have raised through the bond offerings have supported our corporate goals and plans to push for further growth of the company,” said San Miguel Corporation Senior Vice President and Treasury Head Sergio G. Edeza.
“SMC issuances have traditionally been characterized by strong investor appetite and support, given the depth and breadth of its businesses, and its history of stability and innovation, all of which have positioned it to be a significant contributor to the national economy. This is a position that is similar to its own participation within PDEx with its total of PHP 70 Billion of bonds listed and enrolled accounting for 6% of PDEx’s total outstanding listings,” said PDEx President and COO Antonino Nakpil.
PDEX’s 26th listing for this year hikes the total amount of new listings to PHP 270.20 billion, a 103% increase from the same period last year.