The transaction consists of one tranche of Senior Notes and one tranche of Subordinated Notes.
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The Class A Senior Notes are worth P150.0 million and shall be amortized using the Controlled Amortization method with a pre-defined amortization schedule during the Controlled Amortization Period.
The Class B Subordinated Notes are worth P169.322 million, and will be amortized after all Senior Notes have been settled, with variable interest payable quarterly.
Philippine Rating Services Corporation (PhilRatings) said it has affirmed the Conditional Credit Ratings of PRS A plus for the Class A Senior Notes, and PRS Ba for the Class B Subordinated Notes into Final Ratings.
Philippine Rating Services Corporation (PhilRatings) added that the assigned rating has a Stable Outlook.
SBCorp is the government financial institution (GFI) tasked by Republic Act (RA) 9501 to implement various programs that would assist micro, small and medium enterprises (MSMEs) in all areas, including finance and information services, training and marketing.
A company rated PRS A (corp.) is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than higher-rated corporates.
Still, the obligor has an above average capacity to meet its financial commitments relative to that of other Philippine corporates. A Stable Outlook means the rating is likely to be maintained in the next 12 months.
Published December 21, 2020, 5:30 AM
Aboitiz Power Corporation is planning to raise up to P8 billion from a proposed bond issuance as the initial tranche of its new three-year Shelf Registration of up to P30 billion.
The firm is planning to offer bonds worth up to P4 billion with an oversubscription option of up to P4 billion to refinance the Company’s corporate debts and for other general corporate purposes.
Philippine Rating Services Corporation (PhilRatings) has assigned the planned bond float its highest Issue Credit Rating of PRS Aaa with a Stable Outlook.
Aboitiz Power also maintained the Issue Credit Rating of PRS Aaa and a Stable Outlook for AboitizPower’s outstanding P40 billion bonds.
Published December 18, 2020, 5:19 PM
SM Prime Holdings Inc. is planning to raise up to P10 billion from the issuance of bonds representing the second tranche of its Three-year Shelf Registration Debt Securities Program (DSP) of up to P100.0 billion
Philippine Rating Services Corporation (PhilRatings) said it has assigned the highest issue credit rating of PRS Aaa to SM Prime’s (SMPH) proposed bond issue of P5.0 billion, with an oversubscription option of up to P5.0 billion. The rating has a Stable Outlook.
PhilRatings has also maintained its PRS Aaa credit rating and its Stable Outlook for SMPH’s outstanding Series B to Series L fixed-rate bonds, with a total amount of P100.0 billion.