SM to Issue PhP7B 5-Year Corporate Notes

Philippine conglomerate SM Investments Corp. (PSE: SM) will issue up to PhP7 billion worth of five-year corporate notes. The rate is fixed at 50 basis points above the PDSTF and will be available via private placement to institutional lenders.

The issue is part of SM’s debt management as most of the proceeds will be used to refinance an existing liability worth approximately PhP4.3 billion, which will mature in 2012. The balance will be utilized for other corporate requirements.

ING Bank N.V., Manila Branch has been appointed Lead Manager and Sole Bookrunner for the corporate notes issue.

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