SY-LED SM Investments Corp. (SMIC) said Thursday it had successfully issued $500 million five-year notes from its euro medium-term note (EMTN) program, to be listed on Singapore Exchange Securities Trading Ltd. (SGX-ST).
SY-LED SM Investments Corp. said Thursday it had successfully issued $500 million five-year notes from its euro medium-term note program, to be listed on Singapore Exchange Securities Trading Ltd. .The notes will be drawn down from SMIC's $3-billion multi-issuer EMTN program that was established last year.The issuance was said to have been more than three times oversubscribed, with final demand reaching $1.6 billion.
'We believe that the positive reception of this maiden issuance is a testament to the investability of quality Philippine corporates,' he added.Net proceeds will be used for the firm's general corporate purposes.The notes were distributed to high-quality global accounts, with 87 percent distributed in Asia, and the remaining 13 percent taken up by investors from Europe, the Middle East and Africa, the Sy family-led firm said.
Investments To List $500M In Notes On SGX
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