SMFB Debuts PhP 15 Billion Fixed Rate Bonds on PDExPosted on: March 10, 2020
10 March 2020, Makati, Philippines — San Miguel Food and Beverage, Inc. (SMFB), the food and beverage flagship of the San Miguel Corporation, debuts its PhP 15 billion 5-year and 7-year fixed rate bonds on the Philippine Dealing & Exchange Corp. (PDEx). With quarterly coupons pegged at 5.05% and 5.25%, respectively, proceeds will be used to redeem the outstanding
PhP 15 million perpetual preferred shares.
In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said: “What more can one say about SMFB, only the name is new, but the firm has a portfolio of well-established products with the market position, and brand loyalty of consumers across generations, to easily be described as iconic. Even in times such as now, when we are faced with the real prospects of self-quarantine and ‘lock-down’, your products are ready to serve our needs both nutritionally and recreationally, while at home; talk about diversification.”
“As we face a slew of challenges, both local and global, we take inspiration in corporations such as San Miguel, that have experienced and thrived through the up and down cycles, and know hurdles may be surpassed,” added Mr. Nakpil.
For his part, SMFB Vice President, Chief Finance Officer, and Chief Strategy Officer Ildefonso B. Alindogan remarked: “As a company, we remain positive about the years ahead. We will continue to expand the breadth of our product offerings and reinforce our presence in markets. We remain focused on delivering the best products to Filipinos, as well as providing growth and profits to all our stakeholders”.
This 10th listing for 2020 brings the year-to-date total of new listings to PhP 93.54 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 55 companies, comprised of 200 securities.