Conglomerates: SEC approves SM’s PHP15b retail bond sale. A BusinessWorld Online article reports the Securities and Exchange Commission has approved SM Investments Corp’s (SM – Not rated) issuance of PHP10b worth of retail bonds with an oversubscription of as much as PHP5b. The retail bonds will have a term of seven and 10 years with indicative yields of 4.7405%-5.8405% pa for the former and
5.4114%-6.4114% for the latter. Offer period will begin on 30 April and will end on 12 May while the bonds are expected to be issued on 19 May. Proceeds will be used to refinance debt and bankroll expansion projects.
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