The Securities and Exchange Commission (SEC) has approved San Miguel Corp.’s P50-billion retail bond offering under a three-year shelf registration program.
Separately, the SEC also approved the sale of stock entitlement rights by electronics manufacturer Cirtek Holdings, which is raising fresh funds to boost working capital.
In its meeting on June 15, the SEC en banc cleared the registration statement of SMC for the issuance of fixed-rate bonds, which may be issued in one or more tranches within a period of three years.
For the first tranche, SMC will offer up to P20 billion worth of six-year fixed-rate bonds, with an oversubscription option of up to P10 billion.
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Keep on reading: SEC OKs SMC’s P50-B bond offer, Cirtek’s entitlement rights sale