General Announcement::Updated Initial Credit Spread of the New Securities

Issuer & Securities

Issuer/ Manager
SAN MIGUEL GLOBAL POWER HOLDINGS CORP.
Securities
SAN MIGUELUS$600M5.7%PERCAPSEC - XS2098881654 - 9HXB
SANMIGUELUS$500M5.95%PERCAPSEC - XS2072777381 - VXVB
SAN MIGUEL US$400M7%PERCAPSEC - XS2239056174 - FJRB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Nov-2024 21:46:32
Status
New
Announcement Sub Title
Updated Initial Credit Spread of the New Securities
Announcement Reference
SG241126OTHRNR55
Submitted By (Co./ Ind. Name)
Latham & Watkins LLP
Designation
Latham & Watkins LLP
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcements of San Miguel Global Power Holdings Corp. (formerly known as SMC Global Power Holdings Corp.) (the "Offeror") dated 14 November 2024, 18 November 2024, 25 November 2024 and 26 November 2024 (the "Announcements"), in respect of (i) its separate invitations to eligible holders of its (a) outstanding 5.95% Securities, 7.00% Securities and 5.70% Securities to the Exchange Offers; and/or (b) outstanding 5.95% Securities and 7.00% Securities to the Tender Offers, in each case, subject to satisfaction (or waiver) of the New Issue Condition and the other conditions described in the Offer Memorandum, (ii) the Minimum New Issue Initial Distribution Rate of the New Securities, (iii) the total aggregate principal amount of Existing Securities validly (a) offered for exchange pursuant to the Exchange Offers, and (b) tendered for purchase pursuant to the Tender Offers, and (iv) the results of the Offers, the final aggregate amount of New Securities to be issued and the Pricing Terms of the New Securities, and the aggregate principal amount of Existing Securities that will remain outstanding following the Offers, respectively. Capitalised terms used and not otherwise defined in this announcement have the meanings given to them in the Offer Memorandum and the Announcements.

The Offeror hereby announces an updated initial credit spread of 3.904% (instead of 3.901%) covering the New Securities, comprising (i) US$273,925,000 in aggregate principal amount of Exchanged New Securities issued pursuant to the Exchange Offers; and (ii) US$226,075,000 in aggregate principal amount of Additional New Securities issued pursuant to the Additional New Securities Issuance. All other terms announced earlier today remain the same.

Please refer to the attachment for more information.

Attachments

SMGP - SGX Announcement_Updated Initial Credit Spread_2024.11.26.pdf
Total size =252K