Diversified conglomerate San Miguel Corp. pegged the interest rates for its P30-billion retail bond offering.
San Miguel said in a disclosure to the stock exchange the five-year Series J bonds due 2027 will have a fixed interest rate equivalent to 5.2704 per annum, while the seven-year Series K bonds will have a fixed interest rate equivalent to 5.8434 percent per annum.
The offer period will commence on Feb. 18 and end on Feb. 25. The bonds will be listed on the Philippine Dealing & Exchange Corp. on March 4.
Under the plan, San Miguel will issue P25 billion worth of fixed-rate peso bonds with an oversubscription for another P5 billion.
The bonds will be issued as the first tranche from the company’s P60-billion bond shelf registration program approved by the Securities and Exchange Commission early this week.