San Miguel says power unit taps Singapore bond market to raise funds for LNG, other projects

ABS-CBN News

Posted at Oct 12 2020 12:01 PM

MANILA - San Miguel Corp said Monday its power unit was tapping the Singapore bond market to raise funds for capital expenditures and to fund its LNG project.

SMC Global Power Holdings Corp, a wholly-owned subsidiary of diversified conglomerate San Miguel Corp eyes to raise $300 million (P14.5 billion) from the bond market, SMC said in a disclosure to the stock exchange. 

San Miguel said proceeds would be used to fund SMC Global Power's capital expenditures inclusive of investments in liquefied natural gas facilities, other assets and for general corporate purposes.