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San Miguel 5.500% Perp (USD)
San Miguel Corp
San Miguel Corporation (SMC) is one of the Philippines’ largest and most diversified conglomerates, with revenues equivalent to about 4% of the country’s GDP in 2020. Originally founded in 1890 as a single product brewery in the Philippines, SMC today has highly integrated operations with ownership in market leading businesses and investments in various sectors, such as beverages, food, packaging, energy, fuel and oil, infrastructure, property development and leasing, cement, car distributorship and banking services. SMC has a portfolio of companies that is interwoven into the economic fabric of the Philippines, benefiting from, as well as contributing to the development and economic progress of the nation.
to trade this BondbloX
Bondblox Price Information
Last Price
-
Yield
-
BondbloX Information
Identifier: BEXISIN
BEXXS2207320701
Minimum Trading Size
1,000
BondbloX Features
No voting rights
Accrued Interest
0.381
Coupon / Distribution
Pass through of Underlying Bond coupons & distributions
Listed On
BondbloX Bond Exchange
Underlying Bond Information
Bond Issuer
San Miguel Corp
ISIN
XS2207320701
Bond Currency
USD
Country of Risk
PHL
Guarantor
Not Applicable
Coupon
5.500%
Coupon Type
Fixed-Fixed (Margin-over Index)
Industry Type
Diversified Holding Companies
Minimum Denomination
200,000
Minimum Increment
1,000
Amount Issued
500,000,000
Amount Outstanding
500,000,000
Issue Date
Jul 29, 2020
Maturity Date
Perp
Perpetual
Y
Redemption Value
100.000
Bond Rating
-
Registration Type
Regulation S
Seniority
Senior Unsecured
Callable
Y
Next Call Date
Jul 29, 2025
Next Call Price
100.000
Reference Rate
H15T5Y
Spread
1023.7
Refix Frequency (years)
5
Coupon / Distribution Information
Coupon Frequency
2
Next Coupon Date
Jul 29, 2024
Day Count Basis
ISMA-30/360
Record Date Rule
1 ICSD Business Day prior to the relevant Interest Payment Date
Underlying Bond Features
Change of Distribution Rate:

Subject to Condition 4.4 (Increase in Rate of Distribution) (and Condition 4.5 (Optional Deferral of Distributions) if made applicable in the applicable Pricing Supplement), the Securities will confer a right to receive distributions (“Distributions”) (i) at the Initial Rate of Distribution; or (ii) if any Step Up Date is specified in the applicable Pricing Supplement to be applicable:

  • (a) from the period commencing on (and including) the Issue Date to (but excluding) the Step Up Date, at the Initial Rate of Distribution; and 
  • (b) from (and including) each Reset Date (including the Step Up Date) to (but excluding) the immediately following Reset Date, at the relevant Reset Rate of Distribution (determined by the Calculation Agent on the relevant Reset Determination Date and notified to the Securityholders, the Principal Paying Agent and the Registrar), payable semi-annually in arrear on each Distribution Payment Date.
  • Step Up Date: 29 July 2025
  • Reset Date: The Step Up Date and any subsequent date which is the fifth anniversary of any Reset Date.
  • Step Up Margin: 5.000% per annum
Distribution Discretions:

Distribution Deferral, Dividend Stopper, Dividend Pusher and Cumulative Deferral are applicable

Early Redemption due to a Change of Control Event:

If Redemption due to a Change of Control Event is specified as being applicable in the applicable Pricing Supplement, if a Change of Control Event occurs, the Issuer may redeem the Securities (in whole but not in part) 

  • (i) at any time prior to but excluding the Step Up Date at the Special Redemption Price or 
  • (ii) on or at any time after the Step Up Date at the Redemption Price, in each case on the giving of not less than 30 and not more than 60 calendar days’ irrevocable notice of redemption to the Securityholders in accordance with Condition 12.1 (Notices to Securityholders).
  • “Special Redemption Price” means 101% of the Principal Amount of the Securities plus any accrued but unpaid Distributions and any Arrears of Distribution (including any amount of Distributions accrued thereon in accordance with Condition 4.5(a)).
Related Documents
Final Terms
This document constitutes the Final Terms relating to the issue of BondbloX BEXXS2207320701.
Download
Disclaimer
Information regarding the Underlying Bonds is extracted purely on best-efforts basis from the actual program documents currently publicly available to BondEvalue and is not intended to be complete or absolute. No warranty is made as to the completeness or accuracy of such information nor its extraction. Please refer to the actual program documents for complete and accurate information governing the Underlying Bonds.
 
San Miguel 5.500% Perp (USD)
to trade this BondbloX
San Miguel Corp
San Miguel Corporation (SMC) is one of the Philippines’ largest and most diversified conglomerates, with revenues equivalent to about 4% of the country’s GDP in 2020. Originally founded in 1890 as a single product brewery in the Philippines, SMC today has highly integrated operations with ownership in market leading businesses and investments in various sectors, such as beverages, food, packaging, energy, fuel and oil, infrastructure, property development and leasing, cement, car distributorship and banking services. SMC has a portfolio of companies that is interwoven into the economic fabric of the Philippines, benefiting from, as well as contributing to the development and economic progress of the nation.
Bondblox Price Information
Last Price
-
Yield
-
BondbloX Information
Identifier: BEXISIN
BEXXS2207320701
Minimum Trading Size
1,000
BondbloX Features
No voting rights
Accrued Interest
0.381
Coupon / Distribution
Pass through of Underlying Bond coupons & distributions
Listed On
BondbloX Bond Exchange
Settlement Cycle
Instant (Fractional)
Underlying Bond Information
Bond Issuer
San Miguel Corp
ISIN
XS2207320701
Bond Currency
USD
Country of Risk
PHL
Guarantor
Not Applicable
Coupon
5.500%
Coupon Type
Fixed-Fixed (Margin-over Index)
Industry Type
Diversified Holding Companies
Minimum Denomination
200,000
Minimum Increment
1,000
Amount Issued
500,000,000
Amount Outstanding
500,000,000
Issue Date
Jul 29, 2020
Maturity Date
Perp
Perpetual
Y
Redemption Value
100.000
Bond Rating
-
Registration Type
Regulation S
Seniority
Senior Unsecured
Callable
Y
Next Call Date
Jul 29, 2025
Next Call Price
100.000
Reference Rate
H15T5Y
Spread
1023.7
Refix Frequency (years)
5
Coupon / Distribution Information
Coupon Frequency
2
Next Coupon Date
Jul 29, 2024
Day Count Basis
ISMA-30/360
Record Date Rule
1 ICSD Business Day prior to the relevant Interest Payment Date
Underlying Bond Features
Change of Distribution Rate:

Subject to Condition 4.4 (Increase in Rate of Distribution) (and Condition 4.5 (Optional Deferral of Distributions) if made applicable in the applicable Pricing Supplement), the Securities will confer a right to receive distributions (“Distributions”) (i) at the Initial Rate of Distribution; or (ii) if any Step Up Date is specified in the applicable Pricing Supplement to be applicable:

  • (a) from the period commencing on (and including) the Issue Date to (but excluding) the Step Up Date, at the Initial Rate of Distribution; and 
  • (b) from (and including) each Reset Date (including the Step Up Date) to (but excluding) the immediately following Reset Date, at the relevant Reset Rate of Distribution (determined by the Calculation Agent on the relevant Reset Determination Date and notified to the Securityholders, the Principal Paying Agent and the Registrar), payable semi-annually in arrear on each Distribution Payment Date.
  • Step Up Date: 29 July 2025
  • Reset Date: The Step Up Date and any subsequent date which is the fifth anniversary of any Reset Date.
  • Step Up Margin: 5.000% per annum
Distribution Discretions:

Distribution Deferral, Dividend Stopper, Dividend Pusher and Cumulative Deferral are applicable

Early Redemption due to a Change of Control Event:

If Redemption due to a Change of Control Event is specified as being applicable in the applicable Pricing Supplement, if a Change of Control Event occurs, the Issuer may redeem the Securities (in whole but not in part) 

  • (i) at any time prior to but excluding the Step Up Date at the Special Redemption Price or 
  • (ii) on or at any time after the Step Up Date at the Redemption Price, in each case on the giving of not less than 30 and not more than 60 calendar days’ irrevocable notice of redemption to the Securityholders in accordance with Condition 12.1 (Notices to Securityholders).
  • “Special Redemption Price” means 101% of the Principal Amount of the Securities plus any accrued but unpaid Distributions and any Arrears of Distribution (including any amount of Distributions accrued thereon in accordance with Condition 4.5(a)).
Related Documents
Final Terms
Download
This document constitutes the Final Terms relating to the issue of BondbloX BEXXS2207320701.
Disclaimer
Information regarding the Underlying Bonds is extracted purely on best-efforts basis from the actual program documents currently publicly available to BondEvalue and is not intended to be complete or absolute. No warranty is made as to the completeness or accuracy of such information nor its extraction. Please refer to the actual program documents for complete and accurate information governing the Underlying Bonds.

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