SM Investments Corp., the holding company of Philippine billionaire Henry Sy, said it raised $350 million selling five-year dollar bonds.

“It’s the largest bond out of Philippines, with the lowest yield,” said Cora Guidote, SM Investments head for investor relations.

“It’s also the first successful international bond from the Philippines in two years.  The issue is unrated and issued at a time of market turbulence,” Guidote added.

The Manila-based company priced the securities to yield 6.75 percent, or 305.7 basis points above three-year midswap rate, according to an e-mail sent to investors. A basis point is 0.01 percentage point. UBS AG managed the sale of the unrated securities.

SM Investments’ first-quarter profit grew 13 percent to P3.8 billion, driven by higher rents of floor space at the company’s malls.

RP posts $411.19M in Jan.-June net outflow

THE net outflow of foreign funds known as “hot money,” or speculative finance, totaled $411.19 million in the first six months of the year, the Bangko Sentral ng Pilipinas (BSP) said Thursday.

Peso falls to P45.57:$1; market waits for oil price

THE peso fell two centavos to close at P45.57 per dollar in range trading Thursday.

SM Investments raises $350M selling unrated five-year bonds at 6.75%

SM Investments Corp., the holding company of Philippine billionaire Henry Sy, said it raised $350 million selling five-year dollar bonds.