SM to issue P15-B fixed rate retail bonds

Posted at 02/17/14 1:23 PM

MANILA, Philippines – SM Investments Corporation (SM) on Monday said its board of directors approved the issuance of fixed rate peso retail bonds worth P10 billion with an option to increase the amount up to P15 billion.

In a disclosure to the Philippine Stock Exchange, SM said the proceeds of the bonds will be used to refinance maturing debt and for various expansion projects.

SM, which tapped BDO Capital and Investment Corp. as issue manager, said the bonds will be offered in one or two tranches with tenors of 7 and/or 10 years.

“The Board of Directors also authorized the management to negotiate and finalize the terms and conditions, including pricing, tenor and any increase in issuance amount, and execute any and all documents necessary, to implement the retail bond issue,” SM said.