SM Investments Corporation (Photo credit: Wikipedia)Financial IQ Philippines Quick Hit(s):
Here is another bond offering with 6% coupon rate.
SM Investments Corp. (SMIC), the holding firm for the various businesses of retail magnate Henry Sy, launched yesterday its P10-billion retail bond offering, with an option to raise the issue size up to P15 billion.
In a statement, SMIC said the fixed-rate bonds will be issued in two tranches – Series C and Series D – which will mature in seven-years and 10 years, respectively. Series C will have a coupon rate of six percent while Series D will have a maturity rate of 6.94 percent.
The offer period will run until July 6, 2012, SMIC said.
SMIC intends to use proceeds from the issue to partly fund its capital expenditure requirements and for general corporate purposes.
The bond issue was assigned the highest corporate rating of PRS AAA by Philippine Ratings Services Corp.
BDO Capital & Investment Corp., BPI Capital Corp., China Banking Corp., and First Metro Investment Corp. are the joint lead underwriters for the issue.
No comments:
Post a Comment