1 week SEC clears SM’s P30B new bond program Inquirer
The Securities and Exchange Commission has cleared a P30 billion bond offering program planned by the country's largest conglomerate, SM Investments Corp. (SMIC) for the next three years. The first tranche of the offering is worth a maximum of P10 billion, including an option to upsize by P5 billion, the SEC said in a press statement on Thursday. The first tranche will comprise 3.5 year bonds due 2024 to be issued in minimum denominations of P20,000, and in multiples of P10,000 thereafter. The bonds are expected to be listed and traded on the Philippine Dealing & Exchange Corp. Net proceeds ... more