SM Prime Holdings, Inc. said it will start on Friday a week-long offer of peso-denominated fixed rate bonds, with multiple maturities, to raise as much as P25 billion for one of the property development units of the Sy Group.
The fixed-rate bond offer, with maturity of three years for series V, five years for series W and seven years for series X, is part of the P100 billion SM Prime shelf registration approved by the Securities and Exchange Commission.
The bonds will be issued on 24 June.
“SM Prime recognizes the support of the SEC in our pursuit of growth opportunities through our newest P100 billion bond program. This endeavor will help us fuel our passion of providing sustainable integrated property developments to serve more communities across the nation,” SM Prime chief finance officer John Nai Peng C. Ong said.
The series V, W and X bonds have been rated PRS Aaa by Philippine Rating Services Corp. PRS Aaa rating is the highest assigned by PhilRatings, denoting such obligations are of the highest quality with minimal credit risk and the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.
SM Prime’s Series V, W, and X Bonds will be made available to investors through joint issue managers BDO Capital & Investment Corp. and China Bank Capital Corp., which are also joint bookrunners and joint lead underwriters together with BPI Capital Corporation, EastWest Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, and SB Capital Investment Corp., following the receipt of the permit to sell from the SEC.
SM Prime remains committed to its role as catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.
