San Miguel Corporation Launched a P20 Billion Retail Bond Offer

San Miguel Corporation submitted to the PSE a copy of the Permit to Sell and Offer Securities dated June 14, 2024, issued by the Securities and Exchange Commission (SEC) for the offering of up to P20 billion worth of Fixed Rate Retail Bonds consisting of a Base Offer of P15 billion and an Oversubscription Option of up to P5 billion. ​

Source: https://www.sanmiguel.com.ph/disclosures/smc-20-billion-fixed-rate-bond-offering

The Offer Bonds will be issued as the second and final tranche of the company’s P50 billion fixed-rate bond shelf registered under SEC MSRD Order No. 32, Series of 2021, and rendered effective on June 21, 2021. The effectivity of the shelf registration has been extended until July 21, 2024, as approved by the SEC on June 21, 2024.

The Offer Bonds will be issued on July 3, 2024, and will be comprised of: (i) 6.5-year Series O Bonds due in 2031, with a fixed initial interest rate of 7.2584% per annum; and (ii) 10-year Series P Bonds due in 2034, with a fixed initial interest rate of 7.7197% per annum. The Offer Bonds have been rated PRS Aaa with a Stable Outlook by the Philippine Rating Services Corporation.
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The offer period commenced at 9:00 a.m. on June 18, 2024, and ended at 5:00 p.m. on June 24, 2024, or on such other dates and times as may be agreed in writing among the company, the Joint Issue Managers, and the Joint Lead Underwriters and Bookrunners.

​The Offer Bonds will be listed in the Philippine Dealing & Exchange Corp. on the Issue Date, July 3, 2024.