SM bonds program gets regulator approval | ABS-CBN

Featured:
|

ADVERTISEMENT

Featured:
|
dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

SM bonds program gets regulator approval

SM bonds program gets regulator approval

ABS-CBN News

Clipboard

SM Megamall in Mandaluyong City opens to the public on the first day of the modified enhanced community quarantine on May 16, 2020. Mark Demayo, ABS-CBN News

MANILA - Conglomerate SM Investments Corporation's (SMIC) P30 billion fixed rate bonds program has been approved by the Securities and Exchange Commission, the corporate watchdog said on Thursday.

SM Investments will initially offer fixed-rate bonds in the aggregate principal amount of P5 billion, with an oversubscription option for up to P5 billion.

The first tranche will have a tenor of 3.5-year Series H Bonds due in 2024 to be issued in minimum P20,000 denominations and in multiples of P10,000. No details of the timetable yet on the bond offering.

The net proceeds from the offer is estimated at P9.88 billion which will be used to refinance existing debt obligations.

ADVERTISEMENT

The first tranche bonds will be offered to the public at face value through BDO Capital, China Bank Capital, BPI Capital, First Metro Investment Corp. and SB Capital as joint lead underwriters.

SM Investments Corp. (SMIC) reported a consolidated net income of P7.1 billion in the first half, down 69 percent from the P23 billion it booked in the same period last year as the coronavirus pandemic disrupted business operations.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.