SMC Global Power Holdings Corp. (SMCGP) successfully listed its P40-billion Fixed Rate Bonds on the Philippine Dealing and Exchange Corp. (PDEX), the largest corporate bond issuance to date.
The bond offering, initially targeted to raise P30 billion, drew significant interest from investors, prompting the company to exercise its oversubscription option of up to P10 billion.
It comprises the first tranche of SMCGP’s P60 -billion shelf-registered peso retail bonds consisting of Series K Bonds, with an interest rate of 5.9077 percent per annum (p.a.) due in 2025; Series L Bonds, at 7.1051 percent p.a due 2028, and Series M Bonds, at 8.0288 percent p.a. due 2032.
“The funds provided by these Bonds come at an opportune time as we continue with our commitment to provide the country with reliable power supply, amidst present challenges in the global fuel market,” said Ramon S. Ang, SMC president and chief executive officer.
