Diversified conglomerate San Miguel Corp. is raising at least P10 billion through the issuance of fixed rate notes due 2020 to institutional investors to refinance financial obligations and invest in core businesses.
San Miguel said in a disclosure to the stock exchange it would issue the P10-billion fixed rate notes in two series—Series A two-year fixed rate notes with an indicative rate of 5.25 percent and Series B with a put option and an indicative annual interest rate of 4.75 percent.
BDO Capital Investments Corp. and BPI Capital Corp. are the joint underwriters and issue managers of transaction.
The notes will be listed with Philippine Dealing & Exchange Corp. and issued on May 25.
San Miguel in April also raised P20 billion from the issuance of fixed rate bonds due 2023, 2025 and 2028.
The P20-billion bond sale represents the third tranche of the company’s P60-billion bond shelf registration earlier approved by the Securities and Exchange Commission.