SY-LED SM Investments Corp. (SMIC) has tapped financial institutions to arrange fixed income investor meetings in Asia and Europe that were to start Tuesday for a possible issuance of dollar-denominated five-year notes, to be drawn from its Singapore unit's $3-billion euro medium term note (EMTN) program.

"A USD-denominated benchmark-sized Regulation S offering of five-year senior notes by SMIC SG Holdings Pte. Ltd. (the 'Issuer') guaranteed by SMIC may follow, subject to market conditions," the company told the stock exchange.

HSBC, J.P. Morgan, Standard Chartered Bank, and Switzerland-registered UBS were named joint lead managers and joint bookrunners, along with BDO Capital and Chinabank Capital as joint lead managers for the possible issuance.

The program will allow the company to tap the offshore bond market to fund its continued growth and expansion, SMIC said.

Last month, SMIC and wholly owned subsidiary SM Prime Holdings Inc. jointly established the $3-billion EMTN program through their respective units, SMIC SG Holdings Pte. Ltd. and SMPHI SG Holdings Pte. Ltd.

SMIC said the EMTN program would be an added funding option for the SM Group as it would open doors for foreign fundraising opportunities.

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