SM Investments Corporation Enrolls Maiden Issuance of its PhP 5.6 Billion Fixed Rate Notes Due 2022 on PDExPosted on: July 22, 2020
22 July 2020, Makati, Philippines — The local debt market welcomed back SM Investments Corporation (SMIC) for the maiden enrollment of its PHP 5.6 Billion Fixed Rate Notes Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx). The Notes were priced at 2.875% per annum, with interests to be paid on a semi-annual basis. Today’s issuance represents the fifth enrollment on PDEx since 2017, and the first of its kind for 2020.
In his welcome remarks, PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are happy to see the enrollment program again, and we understand that for this issuance, the time from inception to issuance and enrollment today has been nineteen (19) days. So we are even more pleased to see the enrollment process work exactly as it was intended, a fast-track funding/investment medium for Issuers and Qualified Investors.”
SMIC President and Chief Executive Officer Frederic C. DyBuncio also shared a few words on behalf of the issuer.
“As we continue to adapt, innovate, and build our capabilities to respond to the new realities, we are heartened by our company’s resilient financial condition and find new ways to strengthen our financial position further,” said Mr. DyBuncio.
“We would like to thank our Joint Lead Arrangers, BDO Capital and China Bank Capital, for making this issue possible, and of course, PDEx and our investors for its continued trust in SM Investments,” added Mr. DyBuncio.
This 20th listing for 2020 brings the year-to-date total of new listings to PHP 240.33 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprising 202 securities.