MANILA Feb 17 SM Investments Corp, the
Philippines' second-most valuable company, plans to raise up to
15 billion pesos ($335 million) via a retail bond issue to
refinance debt and fund expansion projects, it said on Monday.
The banking-to-property conglomerate said its board approved
the offer of 10 billion pesos worth of fixed-rate peso bonds
with an option for oversubscription for another 5 billion pesos.
Terms and conditions have yet to be set, but SM, owned by
the country's richest man, Henry Sy Sr., is looking to offer
bonds with maturities of seven and/or 10 years in one or two
tranches, it said in a news release.
BDO Capital and Investment Corp, a unit of the country's top
lender, SM-owned BDO Unibank Inc, is the issue manager.
($1 = 44.6 pesos)
(Reporting by Erik dela Cruz; Editing by Matt Driskill)