SM Investments Corporation (SMIC) announced today that it has priced a US$500 million 7-year bond issue at a fixed rate of 4.25% per annum.
The issue was substantially oversubscribed, attracting subscriptions totaling US$3.1 billion from institutional and private banking investors within the Philippines and across Asia and Europe, allowing SMIC to upsize the initial indicative size of the issue to US$500 million.
The landmark bond issue was priced with one of the lowest ever coupons for a seven-year fixed rate bond issued by a Philippine corporate.
The bond issue is a debt management exercise which will further lengthen SMIC's debt profile and take advantage of the much improved interest rate environment.
SMIC Executive Vice President Citi, Deutsche Bank, and J.P. Morgan as joint lead managers and joint bookrunners for the transaction.
For further information, please contact:
Ms. Corazon P. Guidote Senior Vice President for Investor Relations SM Investment Corporation Email address: cora.guidote@sminvestments.com Telephone number: 857-0117 - https://www.affordablecebu.com/
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"SM Investment Corporation Prices US$500 Million 7-Year Bond Issue" was written by Mary under the Business category. It has been read 1594 times and generated 0 comments. The article was created on 11 October 2012 and updated on 11 October 2012.
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