SMC to launch P30-B bond offer | Inquirer Business

SMC to launch P30-B bond offer

/ 04:03 AM June 23, 2021

Conglomerate San Miguel Corp. (SMC) is returning soon to the local bond market with a fresh retail offering of debt paper worth as much as P30 billion.

This will be the first tranche of the P50-billion bond shelf registration recently approved by the Securities and Exchange Commission (SEC).


The base offer will amount to P20 billion, with an oversubscription option of up to P10 billion in fixed-rate bonds, SMC disclosed to the Philippine Stock Exchange on Tuesday, after receiving the permit from SEC to sell these bonds.

Proceeds from the bond offering will be used to retire SMC’s existing dollar-denominated obligation.


The bonds will be offered at face value, and they will be listed and traded on local fixed-income trading platform, Philippine Dealing & Exchange Corp.

SMC has mandated BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., ING Bank N.V., Manila Branch, Philippine Commercial Capital Inc., PNB Capital & Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners for this transaction.

Meanwhile, SMC announced on Tuesday that it has teamed up with “Bantay Dagat” (Sea Guardian) in Calatagan, Batangas, as part of its corporate-wide initiative to promote healthy seas and ensure sustainable livelihood for small fishing communities.

SMC has donated patrol boats to the Calatagan community task force that enlists fisherfolk in coastal villages to help enforce coastal and fisheries laws, particularly against the use of illegal fishing methods and illegal equipment.

One boat each was also given to the municipality of Calatagan and the Philippine Air Force based in Batangas to boost patrolling in the area. SMC also made a larger donation of 19 motorized boats for local fisherfolk groups to be used primarily for their livelihood.

Some 57 fishermen will co-own the boats and benefit from the donation. These are mostly relocatees from the towns of Calatagan and Balayan.

—Doris Dumlao-Abadilla INQ
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, San Miguel Corp. (SMC)
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2021 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.