SMC power arm taps Singapore debt market to raise $300M

SMC Global Power Holdings Corp., a wholly-owned unit of conglomerate San Miguel Corp., is looking to raise as much as $300 million from the Singapore bond market.

In a regulatory filing, SMC said its power arm would use proceeds from the issue to support capital expenditures, including its planned liquefied natural gas facilities in Batangas.

SMC Global has tapped Credit Suisse (Hong Kong), DBS Bank, Merrill Lynch Singapore, HSBC, Mizuho Securities Asia, Standard Chartered Bank, Deutsche Bank Singapore and UBS Singapore as joint lead managers.

The company provides a diversified portfolio utilizing a mix of coal, natural gas, and hydroelectric power plants .

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