San Miguel plans to fully redeem $800-M outstanding notes due 2023


SAN MIGUEL Corp. (SMC) disclosed on the Singapore Stock Exchange that it plans to fully redeem on April 26 its outstanding notes under its US$800 million with 4.875% rate note program due in 2023.

SMC said the notes will be redeemed at 100% of redemption price, together with interest accrued until redemption.

“The notes will be canceled as of the optional redemption date and interest shall cease to accrue on and after the optional redemption date,” the company said in its disclosure to the Singapore bourse, a copy of which was also made available at the Philippine Stock Exchange.

The notes should be surrendered for redemption under the procedures of Euroclear and Clearstream, Luxembourg as these were issued in global form.

Upon redemption and cancelation, the notes will be delisted from the Singapore Exchange Securities Trading Ltd. — K.C.G. Valmonte