San Miguel lists P5.7-B fixed-rate notes on PDEx

ANG-LED conglomerate San Miguel Corp. (SMC) listed its P5.7-billion fixed-rate notes issuance on the Philippine Dealing & Exchange Corp. (PDEx) as part of its funding initiatives.

“The 3-year fixed-rate notes will have a fixed interest rate equivalent to 6.3000% per annum, and have been enrolled with the Philippine Dealing & Exchange Corp. on the issue date, December 23, 2025,” the company said in a disclosure on Tuesday.

Proceeds from the issuance will be used for refinancing and redenominating the company’s US dollar obligations, for general corporate purposes, and for paying fees and expenses related to the issuance.

In its Nov. 13 disclosure, SMC said the notes are exempt from Securities and Exchange Commission registration requirements, as they are offered exclusively to qualified institutional buyers.

“The notes will be issued within December 2025 in scripless form, in minimum denominations of P5 million each, and in integral multiples of P1 million thereafter, with a tenor of 3 years,” the company added.

SMC shares were unchanged at P84 apiece on Tuesday. — Alexandria Grace C. Magno