SM braves torrid market with aggressive guidance

Filipino conglomerate SM Investment Corp was the only Asian issuer to press ahead with a dollar bond this week as credit markets buckled under fears of further problems in the US financial sector. Unrated SM amazed bankers with low guidance of 6.75% on a five year note, while other Asian borrowers stayed firmly on the sidelines. Markets recovered on Wednesday, but will it be enough to help SM over the finishing line? Read EuroWeek on Friday to find out.