In a disclosure to the Philippine Stock Exchange, the firm said its Board of Directors has authorized the offering and issuance of the bonds amounting to up to P60 billion, with an oversubscription option of P20 billion.
“The Board has authorized the engagement of the services of underwriters, advisors, legal counsels, stock and transfer agent, receiving agent/bank, and other agents as may be necessary, proper or desirable to effect the offering,” said SMC.Meanwhile, Cebu Landmasters Inc. said it has finalized the issue size of its maiden Fixed Rate Bond offering, with an aggregate principal amount of P5 billion across 3 tenors.
CLI disclosed that its maiden retail bonds received strong demand from both institutional and retail investors, even as these were priced at the lowest end of the initial spread range.
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