SM Investments Corporation (SMIC) listed PHP10 billion worth of fixed rate bonds with the Philippine Dealing and Exchange Corp. (PDEx) as part of a program to refinance its debts.
The bonds were priced to yield 3.3613% per annum. Issued on October 2, 2020, these bonds will mature on April 2, 2024.
BDO Capital, China Bank Capital, BPI Capital, First Metro Investment Corp (FMIC) and Security Bank Capital were named as Joint Lead Underwriters.
The PHP10 billion bonds are the first issuance out of SMIC’s PHP30 billion debt program under a shelf registration of three years.
SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the 6th largest bank. – BusinessNewsAsia.com