DIVERSIFIED conglomerate San Miguel Corp. is planning a second bond issue under its P60-billion securities program to raise funds to partly refinance its dollar-denominated debts. The company plans to sell P10 billion worth of bonds as base offer with a P5-billion oversubscription option. The new bonds will mature by 2022 and will be listed and traded on the Philippine Dealing and Exchange Corp (PDEx). SMC recently completed its first bond issue of P20 billion under its P60-billion securities program, which were listed and traded on the PDEx last March 1. Established in 1890, SMC is a diversified conglomerate led by businessman Ramon Ang which has businesses in beverages, food and packaging (San Miguel Brewery Inc., Ginebra San Miguel Inc., San Miguel Pure Foods Company Inc.), fuel and oil (Petron Corp.), energy and power (SMC Global Power), infrastructure (Eagle Cement Corp.), and banking (Bank of Commerce).

Source: Manila Times March 14, 2017 17:15 UTC