Practice Areas - Equity Capital Markets Law Firms and Lawyers
| Deal Date: | 27-08-2015 | Practice Area: | Equity Capital Markets |
| Deal Title: | SMC Global Power Holdings Perpetual Capital Securities | Industry: | Electricity |
| Description: |
Milbank advised a consortium of eight joint lead managers including Australia and New Zealand Banking Group Limited, Bank of America Merrill Lynch, DBS, Deutsche Bank, HSBC, ING, Mizuho and UBS, on the USD300 million offer of undated subordinated capital securities by SMC Global Power Holdings, the power arm of San Miguel Corp., one of the Philippines' largest conglomerates. The SMC Global Power Securities confered a right to receive distributions at a rate of 6.750% per annum, were priced at par, and wiwould be redeemable on February 26, 2021 and any semi-annual distribution payment date thereafter. The proceeds from the transaction were intended to be used to finance SMC Global Power's investments in power-related assets.
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| Financial Center: | Hong Kong | Value: | 100.01-500.00 |
| Advised Party: | Lead Manager | Law Firm | Milbank |
| Issuer Jurisdiction - | Philippines | Listing Jurisdiction - | Hong Kong |
| Classification: |
Secondary Offerings and Placings Philippine Stock Exchange: |
Lawyer | James Grandolfo |
