SMC to launch P30-B bond offer | Inquirer Business
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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).

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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.

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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
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TAGS: Business, San Miguel Corp. (SMC)
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