San Miguel brews perpetual bond for dollar return

By Morgan Davis
23 Jul 2020

Philippine conglomerate San Miguel Corp sold its first perpetual dollar bond on Wednesday, returning to the debt market after a seven year hiatus.

San Miguel has not been to the dollar bond market since 2013, although its subsidiaries have sold debt more recently. SMC Global Power Holdings Corp, for instance, raised $600m from a perpetual deal in January.

But this summer has proven busy for many unrated Philippine ...

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