SMC to raise P10B from sale of debt notes
Conglomerate San Miguel Corp. Is issuing P10 billion worth of two-year fixed-rate notes.
In a stock exchange filing, SMC said the notes would be issued to qualified buyers.
The offering is pursuant to the authority of the company’s board of directors to issue peso-denominated fixed-rate corporate notes up to P20 billion.
The notes have a fixed interest rate of 5.25 percent per annum.
Proceeds from the offering will be used to refinance financial obligations and to invest in core businesses.