SM Prime Holdings, Inc. has announced the interest rate of its upcoming P25 billion peso-denominated fixed-rate bonds, marking a significant move in the company’s funding strategy. The bonds, which will be sold from 12 to 18 February 2025, include three series: Series Y due 2028 with a yield of 6.0282 percent, Series Z due 2031 at 6.2113 percent, and Series AA due 2035 with a rate of 6.4784 percent. The total principal amount of the issuance is P20 billion, with an oversubscription option of up to P5 billion. The bond sale is part of SM Prime’s P100 billion shelf registration approved by the SEC in June 2024.
In addition to the bond announcement, SM Prime highlighted its expansion plans in China, particularly in Fujian Province. The company is set to open new malls in Xiamen and Fuzhou by 2025, furthering its international growth. SM City Xiamen is undergoing its fourth expansion, which will include a boutique hotel, while a new mall is also in the works for the outskirts of Xiamen. SM Prime’s focus remains on strengthening its presence in the region, with plans to complete a mall in Fuzhou by 2027. This corporate move signals both SM Prime’s robust financial strategies and commitment to regional expansion.
