<article>Philippine conglomerate <a style="color: #000080;" href="http://www.sanmiguel.com.ph">San Miguel Corp (SMC)</a> announced that its power unit SMC Global Power Holdings Corp had raised $300 million from a bond sale issue.</article>

Philippine conglomerate <a style="color: #000080;" href="http://www.sanmiguel.com.ph">San Miguel Corp (SMC)</a> announced that its power unit SMC Global Power Holdings Corp had raised $300 million from a bond sale issue.
San Miguel assistant corporate secretary Mary Rose Tan informed the stock exchange that final allocations saw the majority of the deal distributed into Asia at 87 per cent, with European investors taking the remaining 13 per cent.
&#8220;The issuance proceeds will be used to finance investments in power-related assets, including its greenfield power projects, and general corporate purposes,&#8221; Tan said.
Originally priced at 7.50 per cent, SMC Global Power issued the Reg S, Unrated Perpetual Non-Call 5.5 years $300 million undated securities in April 2014.
The joint lead manager and joint bookrunners on the transaction were ANZ, BofA Merrill Lynch, DBS Bank Ltd, Deutsche Bank, HSBC, ING, Mizuho Securities and UBS.
A wholly owned subsidiary of San Miguel, SMC Global has five power plants in the Philippines, namely the 2&#215;500 MW coal-fired Sual Power Plant in Pangasinan, the 1200 MW Ilijan Power Plant in Batangas City, the 345 MW San Roque Hydroelectric Multipurpose Power Plant in Pangasinan, and the Greenfield Power Plants in Davao City and Bataan province that are designed to produce up to 900 megawatts of electricity via modern combustion technologies.
San Miguel&#8217;s last trading price remained at P56.00 since yesterday.
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San Miguel Corporation's power unit SMC Global Power Holdings Corp had raised $300 million from a bond sale issue.

Philippines' San Miguel power unit raises $300m via bond sale

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Philippines' San Miguel power unit raises $300m via bond sale

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