New Issue: Philippines' SMC Global prices $300 million 7½% perpetual notes at par

By Christine Van Dusen

Atlanta, April 29 - Philippines-based SMC Global Power Holdings Corp. sold $300 million 7½% perpetual notes at par to yield 7½%, or Treasuries plus 573.6 basis points, a market source said.

Merrill Lynch, Credit Suisse, DBS Bank, Deutsche Bank, HSBC, Mizuho Securities and Standard Chartered Bank were the bookrunners for the Regulation S deal.

The proceeds will be used to finance investments in power-related assets and for general corporate purposes.

SMC Global Power is an electricity generator and seller based in Mandaluyong City, Philippines.

Issuer:	SMC Global Power Holdings Corp.
Amount:	$300 million
Maturity:	Perpetual
Description:	Notes
Bookrunners:	BofA Merrill Lynch, Credit Suisse, DBS Bank, Deutsche Bank, HSBC, Mizuho Securities, Standard Chartered Bank
Coupon:	7½%
Price:	Par
Yield:	7½%
Spread:	Treasuries plus 573.6 bps
Call features:	Non-callable for 5½ years
Trade date:	April 29
Distribution:	Regulation S

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