Latham & Watkins advised holding company SM Investments Corporation and its subsidiaries (SM Group) on the establishment of a US$3 billion multi-issuer Euro Medium-Term Notes (EMTN) program, enabling it to efficiently access funding with flexibility.
The first tranche of notes issued out of the EMTN program raised US$500 million and was 3.2 times oversubscribed, with final demand reaching US$1.6 billion, marking the SM Group’s largest offshore bond issuance since 2014. The notes are listed on the Singapore Exchange Securities Trading Limited.
SM Investments is the largest publicly listed company in the Philippines by market capitalization and is invested in retail, property development, mall, and real estate operations and financial services, among others.
The Latham team was led by Hong Kong partner Benjamin Carale, with associate Diana Dizon.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
The advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
