SMC Global Power prices P30B bond offer
MANILA, Philippines — SMC Global Power Holdings Corp., one of the country’s largest power generation firms, has priced a fresh multi-year bond offering worth as much as P30 billion.
This represents the first tranche of SMC Global Power’s three-year bond shelf registration of up to P60 billion.
SMC Global Power has launched the bond offering in three-, five- and seven-year tenors at a respective interest rate of 6.835 percent, 7.1783 percent and 7.6 percent per annum. Coupon payment will be made on a quarterly basis.
The offering started on April 1 and will run until April 12 this year.
The bonds are offered to the public in minimum denominations of P50,000 and in multiples of P10,000 thereafter.
The joint issue managers, joint lead underwriters, and bookrunners are BDO Capital, BPI Capital, Chinabank Capital, PNB Capital, RCBC Capital, and SB Capital.
SMC Global Power’s bonds have obtained the highest credit rating of PRS Aaa from local credit watcher Philippine Rating Services Corp. with a “stable” outlook.
