PSE Market Summary:
The Philippine Stocks Market was down for five consecutive trades to close at 5,353.47. A total of 23,996 trades were recorded with 74 stocks advances and 81 declines. 52 stocks remained unchanged.
SM Sets Rates for its 7-yr Bonds
SM Investments Corporation (PSE:SM) has set the price of its $500 million 7-year bond issuance at a fixed rate of 4.25% per annum. The security is one of the lowest coupon ever issued in the country, reflecting a strong outlook in the company.