SM Investments Corp. (SMIC) on Monday said the Securities and Exchange Commission (SEC) has issued the company a certificate of permit to offer securities for sale for the offer and issuance of its P15-billion fixed-rate bonds.
The P15-billion offer comprises a P10-billion base offer with an oversubscription option of up to P5 billion.
In a disclosure to the exchange on Monday, SMIC set interest rates for Series I three-year retail bond due in 2025 at 3.5915% and for Series J five-year retail bond due in 2027 at 4.7713%.
This is the second tranche of the company’s P30-billion shelf-registered debt securities program. An initial P10-billion tranche was issued in October last year.
SMIC said the second tranche bonds will be offered through its underwriters until Feb. 11 and will be issued on Feb. 18.
Proceeds from the P15-billion fixed-rate bond issuances will be used to fund the company’s existing debt obligations and for general corporate purposes.
SMIC shares on Monday went down 2.71% or P26.50, closing at P950 per share. — Keren Concepcion G. Valmonte
