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May 10, 2018 @ 15:59

SMC readies P20B debt issuance

 

Diversified conglomerate San Miguel Corp. has approved the issuance of peso-denominated fixed notes amounting to as much as P20 billion.

Proceeds from the offering will be used for refinancing of existing loan obligations, redemption of US dollar denominated loan obligations and additional investments in SMC subsidiaries.

The notes will be sold only to qualified institutional buyers.

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