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May 22, 2018 @ 20:11

SMC to raise P10B from sale of debt notes


Conglomerate San Miguel Corp. Is issuing P10 billion worth of two-year fixed-rate notes.

In a stock exchange filing, SMC said the notes would be issued to qualified buyers.

The offering is pursuant to the authority of the company’s board of directors to issue peso-denominated fixed-rate corporate notes up to P20 billion.

The notes have a fixed interest rate of 5.25 percent per annum.

Proceeds from the offering will be used to refinance financial obligations and to invest in core businesses.

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