Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

MILBANK REPRESENTS JOINT LEAD MANAGERS ON THE US$300 MILLION PERPETUAL CAPITAL SECURITIES OFFERING BY SMC GLOBAL POWER HOLDINGS

James Grandolfo

Successful offering of undated subordinated capital securities by one of the largest power companies in the Philippines indicates continued investor confidence in the country and its power sector.

The international law firm Milbank, Tweed, Hadley & McCloy advised seven leading international banks, as joint lead managers and joint bookrunners, on the US$300 million undated subordinated capital securities offering by SMC Global Power Holdings Corp., a wholly-owned subsidiary of San Miguel Corporation and one of the largest power companies in the Philippines.

James Grandolfo

James Grandolfo

The joint lead managers and joint bookrunners on the transaction were BofA Merrill Lynch, Credit Suisse, DBS Bank Ltd., Deutsche Bank, HSBC, Mizuho Securities and Standard Chartered Bank.

This transaction was the third ever perpetual capital securities offerings by a Filipino issuer.  The highly successful fund raising will further strengthen SMC Global Power’s financial position and ability to continue its expansion in the power sector in the Philippines.

Global Securities partner James Grandolfo commented, “We are extremely pleased to have been able to assist SMC Global Power on this important fund raising exercise.  The high level of investor interest in the transaction is a strong indication of confidence in the Philippines, its power sector and the prospects of SMC Global Power.  Given the success of the deal, we expect other Philippine corporate issuers to consider corporate hybrid transactions as a means of fundraising in the future.”

The Milbank team was led by partner James Grandolfo, supported by special counsel Paul Pery and senior associate Jessica Zhou.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post