The Securities and Exchange Commission (SEC) has approved San Miguel Corp.’s P50- billion bond registration.
The company applied plans to initially issue P30 billion of the bonds.
The first tranche is divided into P20 billion of six-year bonds due 2027, with an oversubscription of up to P10 billion.
“The listed company expects to net P19,739,736,875 from the base offer plus P9,877,600,000, assuming the oversubscription option is fully exercised. Proceeds will be used to redominate existing dollar-denominated obligations of San Miguel,” the SEC said.
The bonds will be offered at face value, and will be listed and traded on the Philippine Dealing & Exchange Corp.
San Miguel has tapped BDO Capital and Investment Corp., BPI Capital Corp., China Bank Capital Corp., ING Bank N.V., Manila Branch, Philippine Commercial Capital Inc., PNB Capital & Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. as the joint lead underwriters and bookrunners for the offer.
