SMIC hikes retail bond issue to P15-B

SM Investments Corp. upsized its retail bond issue to US$357.9 million from US$238.6 million due to robust demand from both retail and institutional investors.

SMIC said the bonds, which compromise six percent Series C bonds due 2019 and 6.9442-percent Series D Bonds due

2022, were taken up by a wide spectrum of investors ranging from individuals in the retail market,banks, investment funds, pension funds, insurance companies and other corporates.

The strong market response prompted the joint issue managers and joint lead underwriters to exercise the company’s oversubscription option.

SMIC intends to use proceeds from the issue to partly fund its capital expenditure requirements and for general corporate purposes.

The bond issue was assigned the highest corporate rating of PRS AAA by Philippine Ratings Services Corp. The rating denotes that such obligations are of the highest quality with minimal credit risk, and that the issuing company’s capacity to meet its financial commitment on the obligation is extremely strong.

For more.

Also Read

SGX, Thomson Reuters unveil bond indices for benchmarking investment performance

AXA Real Estate raises ¥26b at launch of 2nd Japanese debt investment vehicle

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit