San Miguel disclosed that its board of directors has approved a P20 billion issuance of fixed-rate Peso-denominated bonds.
] disclosed that its board of directors has approved a P20 billion issuance of fixed-rate Peso-denominated bonds. The transaction will exhaust SMC’s P50 billion shelf registration.SMC is the king of juggling debt, and a bond issuance like this is a nice way of borrowing some extra fingers to stick into some additional pies. The company said the proceeds were meant to retire an existing dollar-denominated debt.
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