{"id":329606,"date":"2024-09-23T09:46:28","date_gmt":"2024-09-23T01:46:28","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329606"},"modified":"2024-09-23T09:49:43","modified_gmt":"2024-09-23T01:49:43","slug":"trade-the-news-smc-tollways-plans-p35-billion-bond-issuance","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-smc-tollways-plans-p35-billion-bond-issuance\/","title":{"rendered":"Trade the News: SMC Tollways plans P35-billion bond issuance"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>San Miguel Corp. <\/td><\/tr>
Stock Code<\/strong><\/td>SMC<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 102.60<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

San Miguel Corp. (SMC), through its tollways arm, intends to raise as much P35 billion from a proposed bond offer.<\/p>\n\n\n\n

SMC Tollways Corp.\u2019s planned bond issue of P30 billion with an oversubscription option of up to P5 billion has been assigned an issue credit rating of PRS Aaa with a stable outlook by the Philippine Rating Services Corp. (PhilRatings).<\/p>\n\n\n\n

Obligations rated PRS Aaa are of the highest quality with minimal credit risk.<\/p>\n\n\n\n

A stable outlook, on the other hand, indicates that the assigned rating is likely to be maintained or to remain unchanged in the next 12 months.<\/p>\n\n\n\n

PhilRatings said it took into account the positive demand for the services of SMC Tollways, the company\u2019s sustained improvement in profitability as well as easing leverage levels in assigning the rating and corresponding outlook.<\/p>\n\n\n\n

Further, it said that the leadership and management of SMC Tollways is largely in line with the San Miguel Group, under its infrastructure arm San Miguel Holdings Corp.<\/p>\n\n\n\n

As part of the SMC Infrastructure Group, SMC Tollways holds the concession rights for the Skyway system consisting of the Skyway Stage 1, Skyway Stage 2, Skyway Stage 3 and the Skyway Extension.<\/p>\n\n\n\n

SMC Infrastructure also oversees other major expressways in Luzon, such as the South Luzon Expressway, Southern Tagalog Arterial Road, Tarlac-Pangasinan-La Union Expressway and the NAIA Expressway.<\/p>\n\n\n\n

PhilRatings said that annual average daily traffic (AADT) in the Skyway system has progressively increased since the outbreak of the pandemic in 2020.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329606","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329606"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329606\/revisions"}],"predecessor-version":[{"id":329612,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329606\/revisions\/329612"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}