SM Investments Corp. said Friday it listed P10 billion worth of fixed-rate retail bonds with Philippine Dealing & Exchange Corp.
SMIC said in a disclosure to the stock exchange the bonds, which would mature on April 2, 2024, were priced to yield 3.3613 percent per annum.
The company said it would use the net proceeds from the fund-raising activity to refinance debt.
BDO Capital and Investments Corp. China Bank Capital, BPI Capital Corp. First Metro Investment Corp. and Security Bank Capital were named as joint lead underwriters for the transaction.
The P10-billion bonds are the first issuance out of the conglomerate’s P30 billion debt program under a shelf registration of three years approved by the Securities and Exchange Commission.
The conglomerate reported a consolidated net income of P7.1 billion in the first half, down 69 percent from P23 billion in the same period the previous year.