By Christine Van Dusen
Atlanta, Jan. 24 - Philippines-based SMC Global Power Holdings Corp. priced $300 million notes due 2016 at par to yield 7% on Friday, a market source said.
ANZ, HSBC and Standard Chartered were the bookrunners for the Regulation S deal.
Proceeds will be used for financing investments in power-related assets and financing payment or prepayment to state-run Power Sector Assets and Liabilities Management Corp. (Psalm) for payment obligations of subsidiaries.
SMC Global Power is a subsidiary of Philippines-based food and beverage company San Miguel Corp.
| Issuer: | SMC Global Power Holdings Corp.
|
| Amount: | $300 million
|
| Maturity: | 2016
|
| Description: | Notes
|
| Bookrunners: | ANZ, HSBC, Standard Chartered
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Trade date: | Jan. 21
|
| Settlement date: | Jan. 28
|
| Distribution: | Regulation S
|
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