The food, drinks and infrastructure conglomerate said its board approved the issuance of bonds from its P50 billion long-term bond program.
The board also approved necessary filings to the Securities and Exchange Commission and applying for listing on the Philippine Dealing Exchange.
Additionally, the board greenlit hiring underwriters, advisors, legal counsels, and other essential agents to facilitate the bond offering.
In December 2022, SMC accessed the bond market through a P60 billion issuance, marking the largest corporate bond issuance at the time.
It was overtaken last January when the Sy family-led banking giant BDO Unibank Inc. raised a record-breaking P63.3 billion from its bond sale.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
