Smart Communications, the mobile unit of leading Philippine operator PLDT, has issued PhP5.5bn (US$128m) worth of five- and 10-year notes, according to a company statement.
The proceeds are expected to be used to refinance some of its debt. First Metro…
Smart Communications, the mobile unit of leading Philippine operator PLDT, has issued PhP5.5bn (US$128m) worth of five- and 10-year notes, according to a company statement.
The proceeds are expected to be used to refinance some of its debt. First Metro Investment Corp acted as lead arranger and sole bookrunner on the transaction.
The notes issue was 1.3x oversubscribed, with book orders reaching PhP7.4bn (US$172m).
First Metro president Roberto Juanchito Dispo said: “The notes were well received by the market with an oversubscription on its planned issue size. The balanced mix of participating lenders confirms high investor confidence in Smart’s future prospects.”
