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Nov 26, 2016 @ 1:06

Henry Sy conglomerate kicks off P20B bond offering


Conglomerate SM Investments Corp. has set the interest rate for its planned P20 billion bond offering at 5.159 percent.

In a statement, SMIC said it would offer P15 billion seven-year Series G bonds with an option to issue an additional amount of up to P5 billion.

The offering kicked off today (Nov. 25) and will run until Dec. 2. Listing for the bonds, on the other hand, has been set on Dec. 9.

This series of SMIC peso-denominated bonds due 2023 is the fourth offering by SMIC.

BDO Capital & Investment Corp. and China Bank Capital Corp. are the joint lead underwriters while BPI Capital Corp. and First Metro Investment Corp. are the co-lead underwriters.

SMIC is a leading conglomerate with core interests in retail, banking and property development.

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