Philippines' SM Investment to price $200 million five-year convertibles

By Kenneth Lim

Boston, Jan. 12 - The Philippines' SM Investment Corp. plans to offer $200 million of five-year convertible bonds, the company said Friday in a statement.

The terms of the deal have not been determined.

Citigroup and Macquarie Securities (Asia) are leading the Regulation S offering.

SM Investment, a Pasay City, Philippines-based conglomerate with businesses in fashion and grocery retail, banking and property development, said the proceeds of the deal will be used to refinance part of its maturing debt and for general purposes.

The company noted that the issuance comes as its common stock is trading at an all-time high following the consolidation of its supermarket and hypermarket operations and the merger of two of its bank holdings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.