SMC unit nets $600M from securities sale

By Jordeene B. Lagare

Jan 23, 2020 12:07 am

SMC Global Power Holdings Corp., the power arm of San Miguel Corp. (SMC), has raised $600 million from the sale of securities.

In a disclosure to the Philippine Dealing & Exchange Corp. on Wednesday, SMC Global Power said it issued senior perpetual capital securities with an initial rate of distribution of 5.70 percent per annum.

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