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Conglomerate San Miguel Corp. said Thursday it will redeem P11.24 billion worth of bonds ahead of its 2027 maturity.
The put option entitles the bondholders to sell back the bonds to the issuer ahead of maturity. The partial redemption of the bonds will help SMC settle its financial obligation ahead of interest rate re-pricing. SMC also raised P20 billion from issuance of Series O due 2031 and Series P bonds due 2034 early this month.
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