The bond offerings of SMC Global Power Holdings Inc., a unit of San Miguel Corp., and conglomerate Ayala Corp. fetched attractive rates on stable interest rate outlook for the rest of the year.
SMC Global plans to generate P15 billion from the sale of five-year, seven-year and 10-year bonds.
BDO Capital and Investment Corp. president Eduardo Francisco said in a text message the five-year SMC Global bonds were priced at 4.3458 percent, the seven-year bonds at 4.7575 percent and the 10-year bonds at 5.1792 percent.
Offer period will be on June 27 to July 1, while listing date was tentatively set on July 8.
BDO Capital is one of the nine underwriters hired by SMC Global to handle the transaction. Others were Maybank ATR Kim Eng, SB Capital, BPI Capital Corp., PNB Capital Corp., Standard Chartered, China Bank Capital RCBC Capital Corp. and United Coconut Planters Bank.
Proceeds from SMC Global fund raising activity will be used to refinance short-term loans maturing in 2016.
SMC Global currently controls 2,903 megawatts of combined contracted capacity as of December 2015.
Meanwhile, Ayala Corp. is raising up to P10 billion from the issuance of seven-year bonds priced at 3.92 percent. The final interest rate is at the lower end of earlier price guidance of 3.9 percent to 4.15 percent per annum.
Documents filed with the Securities and Exchange Commission showed the offer period of Ayala Corp. bonds would be on June 27 to July 1 while listing date was set on July 7.
Underwriters handling Ayala Corp.’s fixed rate bonds include BDO Capital, BPI Capital., China Bank Capital Corp. and First Metro Investments Corp.
Proceeds from the fund raising activity will be used to refinance Ayala group’s P10-billion bonds maturing in April 2017.
Interest rates are expected to remain stable for the rest of the year amid stable interest rates.
Both SMC Global and Ayala Corp. bonds will be listed with the Philippine Dealing & Exchange Corp.
PDEx president and chief operating officer Cesar Crisol earlier set a target of listing P100 billion worth of bonds in 2016.