SM Investments Corporation Lists PHP 15 Billion Fixed Rate Bonds on PDExPosted on: February 18, 2022
18 February 2022, Makati, Philippines — Today SM Investments Corporation (SMIC) returned to the local debt market for the listing of its PHP 15 Billion series I and J three (3) and five (5) year Fixed Rate Bonds. The bonds hold an interest rate of 3.5915% and 4.7713%, respectively, to be paid semi-annually.
PDEx President and Chief Executive Officer Antonino A. Nakpil said: “The timing of these business pre-positioning activities from the banking arm and holding company of one of the Philippines’ significant conglomerates could not be more serendipitous especially as we edge ever closer to Alert Level 1. These signs of preparation imply real expectations of revived activity in lending and finance and now consumer spending are clear indicators of an economic engine revving back to life and most positive indeed.”
Meanwhile, SMIC Executive Vice President and Treasurer Erwin G Pato remarked: “We were pleasantly surprised by the turnout which is a strong testament to investor confidence in our credit quality and growth prospects.”
“We are grateful that the local debt market has received our issuances with strong interest amid these pandemic times”, added Mr. Pato.
This 3rd listing for 2022 brings the year-to-date total of new listings to PHP 94.7 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 53 companies, comprising of 192 securities.