Home » Articles » Business

SM Launches PhP10 billion Retail Bond Offering...

(27 June 2012. Pasay City, Philippines) SM Investments Corporation (SM) will formally launch today its Php 10 billion retail bond offering in an investor presentation at the SM X Convention Center. The launch came after SM obtained the final approval of the Philippine Securities and Exchange Commission (SEC). The offer is worth Php 10 billion with an option to issue an additional amount of up to Php 5.0 billion. The fixed-rate bonds are being issued in two tranches: Series C will mature in seven-years while Series D will mature in ten-years, with coupon rates of 6.0000% and 6.9442%, respectively. The offer period will end on July 6, 2012, with an issue date of July 16, 2012. The bonds shall be issued in scripless form in minimum denominations of P20,000.00 each, and in multiples of P10,000.00 thereafter.
The SM bonds are Triple A rated, the highest assigned by Philippine Ratings Services Corporation (PhilRatings). This denotes that such obligations are of the highest quality with minimal credit risk, and extremely strong financial commitment from SM to meet its obligations.

The proceeds of the issue will be used by SM to partially finance its capital expenditure requirements for the next five years and for general corporate purposes.

SM has organized a group of eleven underwriters to distribute the bonds. Joint lead underwriters are BDO Capital & Investment Corporation, BPI Capital Corporation, China Banking Corporation, and First Metro Investment Corporation.
 

Please support us in writing articles like this by sharing this post

Share this post to your Facebook, Twitter, Blog, or any social media site. In this way, we will be motivated to write articles you like.

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.

"SM Launches PhP10 billion Retail Bond Offering" was written by Mary under the Business category. It has been read 1583 times and generated 0 comments. The article was created on and updated on 27 June 2012.
Total comments : 0