SAN Miguel Corp., through its power arm SMC Global Power Holdings Corp., listed on Friday fixed-rate bonds worth P15 billion at the Philippine Dealing and Exchange Corp. (PDEx).

The five-year Series G Fixed Rate Bonds, maturing in 2023, carry an interest rate of 6.75 percent, payable quarterly each year.

“This reflects the continuing confidence of the local market on the vision and prospect of SMC Global Power. The funding from this bond is a big step towards our mission to support nation building and contribute to our country’s economic progress,” SMC Global General Manager Elenita Go said during the listing ceremony.





SMC told the local bourse last month it was planning to issue fixed-rate bonds of up to P15 billion for debt refinancing purposes.

“Such issuance is the last tranche of its three-year shelf registration and has been given by the Philippine Rating Services Corp. the highest Issue Credit Rating of PRS Aaa with a Stable Outlook,” it said.

In December last year, SMC Global listed P9.9 billion in fixed-rate bonds maturing in 2022, P6.5 billion in bonds due in 2024 and P3.6 billion due in 2027. The five-year bonds carry an interest rate of 5.375 percent while the returns for the seven-year and 10-year bonds are 6.25 percent and 6.625 percent, respectively.

Founded in 2008, SMC Global Power is the holding company for SMC’s investments in the power industry. Its total capacity is 4,153 megawatts (MW), representing about 19 percent of the power supply of the national grid, 25 percent of the Luzon grid, and 9 percent of the Mindanao grid.

SMC was originally founded in 1890 as a single-product brewery in the Philippines. Since then, the company has transformed itself from a beverage, food and packaging business into fuel and oil, energy, infrastructure, and banking industries.

Shares of SMC rose P1.50 or 1.03 percent to end at P147.50 each.