SEC oks Php15B SM Global bond

THE POWER generation arm of San Miguel Corp. (SMC) secured the approval of the Securities and Exchange Commission (SEC) to commence the sale of fixed-rate bonds.  The SEC cleared, in an en banc meeting on Tuesday, the application of SMC Global Power Holdings Corp. to raise P15 billion from a bond issuance, Armando A. Pan, Jr., officer-in-charge of the Office of the Commission Secretary, said in an interview. The bonds have tenors of five, seven and 10 years, according to a prospectus filed with the SEC on June 15. Read more here.

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