SM Prime Holdings, Inc., one of the largest integrated property developers in the country and part of the SM Group, has listed its P25 billion fixed-rate retail bonds at the Philippine Dealing and Exchange Corp.
The issuance is the first tranche of SM Prime’s P100 billion shelf registration of fixed-rate bonds approved by the Securities and Exchange Commission in May this year.
SM Prime chief finance officer John Nai Peng C. Ong said the retail bonds attracted immense interest from investors that resulted in a three-fold oversubscription and enabled the company to raise P25 billion. Ong attributed this success to the strong trust and confidence placed by shareholders, customers, business partners, and the investing community in SM Prime.
The Series V, W, and X bonds have received a PRS Aaa rating with Stable outlook from Philippine Rating Services Corporation (PhilRatings), affirming their high credit quality and stability.
The retail bond issue was jointly managed by BDO Capital & Investment Corp. and China Bank Capital Corp., both part of the SM Group. The issuance was also supported by joint lead underwriters BPI Capital Corp., East West Banking Corp., First Metro Investment Corp., Land Bank of the Philippines, Security Bank Corp., and SB Capital Investment Corp.
SM Prime said it is committed to driving economic growth through the development of innovative and sustainable lifestyle cities, aimed at enhancing the quality of life for millions of people.
