SMC to issue P10-billion fixed rate notes

San Miguel Corp. (SMC) looks to raise P10 billion from the issuance of fixed rate notes due 2020 fo refinancing existing debt and to manage dollar-denominated obligations.
In a preliminary prospectus posted on its website, the listed conglomerate said the issuance will consist of Series A fixed-rate notes due 2020 and Series B fixed-rate notes with a noteholder put option due 2020.
For the Series B notes, investors shall have the right to require SMC to redeem the notes at face value after a year. — Arra B. Francia