San Miguel Food and Beverage, Incorporated (SMFB) is the food arm of Philippine conglomerate San Miguel Corporation.
At the Philippine Dealing and Exchange Corporation (PDEx), the company listed its bonds amounting to P15 billion yesterday.
This event marks the maiden bond listing of SMFB as an independent group from San Miguel Corporation.
Moreover, the issuance of the bonds will entail proceeds. SMFB will reportedly utilize these funds to repay its preferred shares.
The latter will mature on Thursday, March 12, according to the report by the Philippine business newspaper BusinessWorld.
From its latest bond offering, SMFB anticipates garnering an estimated P14.81 billion. The bond listing of the San Miguel Corporation food arm is reportedly the tenth in PDEx for this year.
For 2020, this activity brings the total value of new listings to P93.54 billion. Ildefonso B. Alindogan remarked that the demand for the bonds of SMFB is quite agreeable.
He cited that they received robust backing from quality institutional investors. Furthermore, retail investors have expressed their interest in the bonds, the SMFB chief finance officer said.
With these positive responses, Alindogan relayed that they made them price the bonds in a very tight manner.
He mentioned that, for this year, the bond issuance would be the last planned borrowing of the San Miguel Corporation food arm.
As of September 2019, SMFB posted flat earnings, totaling to P22.92 billion. These figures are in light of a 10-percent surge in revenues, amounting to P226.36 billion.
The food unit of San Miguel Corporation makes food and spirits. Moreover, it manufactures non-alcoholic drinks and beer.
SMFB’s brands include Purefoods, San Miguel Beer, Magnolia, and Ginebra San Miguel.
On Tuesday, March 10, 2020, San Miguel Corporation (PSE: SMC) closed at P119.50 per share.
From its previous closing, this last trade price of the company’s stock is down by P5.50 or 4.40 percent.
Moreover, the total value turnover reached P35,142,551.00.
The Philippine Stock Exchange recorded the 52-week high of San Miguel Corporation at P195.90.
Meanwhile, its 52-week low is at P118.20.
As for San Miguel Corporation’s division, San Miguel Food and Beverage, Incorporated (PSE: FB), it closed at P67.00 per share during yesterday’s trading.
From its previous close, this last trade price of the company’s stock is down by P1.50 or 2.19 percent.
Also, the total value turnover reached P18,476,933.50.
The Philippine Stock Exchange recorded the 52-week high of San Miguel Food and Beverage, Incorporated at P118.20.
Meanwhile, its 52-week low is at P63.05.