By Marisa Wong
Los Angeles, Oct. 2 – SM Investments Corp. issued PHP 10 billion of 3˝-year bonds with a 3.3613% coupon on Friday, according to a company announcement.
BDO Capital, China Bank Capital, BPI Capital, First Metro Investment Corp. and Security Bank Capital acted as joint lead underwriters.
In August the company said it planned to issue up to PHP 5 billion of bonds with an oversubscription option for up to PHP 5 billion of bonds, downsized from the PHP 10 billion of bonds with an oversubscription option for up to PHP 5 billion of bonds announced in July.
The current offering is the first tranche under the company’s PHP 30 billion three-year debt program.
Philippine Ratings Services Corp. assigned a rating of PRS Aaa to the initial tranche, as previously announced.
SM Investments is a Pasay City, Philippines-based conglomerate with interests in retail, banking and real estate.
| Issuer: | SM Investments Corp.
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| Issue: | Bonds
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| Amount: | PHP 10 billion
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| Maturity: | April 2, 2024
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| Underwriters: | BDO Capital, China Bank Capital, BPI Capital, First Metro Investment Corp. and Security Bank Capital
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| Coupon: | 3.3613%
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| Settlement date: | Oct. 2
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| Rating: | PhilRatings: PRS Aaa
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