The overseas units of SM Investments Corp. and SM Prime Holdings Inc. have established a multi-issuer European medium term note program that could raise as much as USD3 billion from international investors for projects of the SM Group of the Sy family.
SM Investments’ wholly-owned SMIC SG Holdings Pte. Ltd. and SM Prime’s SMPHI SG Holdings Pte. Ltd set up the borrowing facility that would tap the offshore bond market to fund its continued growth and expansion.
SM Prime remains committed to its role as a catalyst for economic growth, and will open four shopping malls in the country this year that will add a total 440,000 square meters of retail space. Aside from shopping malls, SM Prime also has interests in hotels, offices, and convention centers.
SM Investments, the parent company of SM Prime, also holds major stakes in SM’s retail operaIons, BDO Unibank, China Banking Corp., and 2Go, among other ventures.
