SM Investments raises bond issue to P20B

ABS-CBN News

Posted at Dec 08 2016 11:53 AM

MANILA - SM Investments Corp. said Thursday it would increase its bond issue to P20 billion after demand exceeded the initial P15-billion offer.

The Series G bonds, priced at 5.159 percent and due in 2023, is the maiden issue from the company's P50-billion shelf registration with the Securities and Exchange Commission, SM Investments said in a disclosure.

Proceeds from the sale will be used to fund investments and acquisitions in SM's property, retail and financial service businesses, the company said.

SM Investments shares were up 0.62 percent to P649 pesos in early trading Thursday.