SMC to raise P20 B from bond issuance

Diversified conglomerate San Miguel Corp. (SMC) intends to raise P20 billion from the offering of the remaining tranche of its bond program.

- RICHMOND MERCURIO

In a stock exchange filing, SMC said its board has authorized the offering and issuance of fixed-rate bonds of up to P20 billion.

The issuance will come from the remainder of SMC's existing P50 billion Securities and Exchange Commission (SEC) shelf-registered pesodenominated bonds.

SMC will file the appropriate registration statement and offer supplement with the SEC as well as submit a listing application of the bonds with the Philippine Dealing Exchange Corp.