SM Investment Corp. eyes offshore bond offering

By Doris C. Dumlao

Philippine Daily Inquirer

6:21 pm | Wednesday, October 3rd, 2012

MANILA, Philippines—Tycoon Henry Sy-led SM Investments Corp. plans to return to the offshore bond market with the offering of seven- and 10-year US dollar bonds.

In a disclosure to the Philippine Stock Exchange on Wednesday, SMIC said it has appointed Citi, JP Morgan and Deutsche Bank to jointly underwrite the offering.

“The offering is a debt management exercise which aims to further lengthen the company’s debt profile and take advantage of the much improved interest rate environment,” the disclosure said.

The company’s board of directors authorized the management to negotiate and finalize the amount, terms and pricing of the bond issue subject to the prevailing market conditions.

SMIC, through various subsidiaries, is the dominant player in Philippine banking, shopping mall and retailing businesses, as well as a fast-growing player in residential condominium and hotel/convention center development.

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Tags: Business , Henry Sy , investment firms , Investments , offshore bond market , SM Investments Corp.

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