SM Prime Holdings Inc., the listed property development arm of the SM Group,has tapped major global and domestic banks to arrange a series of fixed-income investor calls across Asia and Europe starting September 8, one of the initial steps to prepare for a potential USD-denominated, benchmark-sized Regulation S offering of 5-year senior notes.
The offering will be issued by SMPHI SG Holdings Pte. Ltd., a wholly owned subsidiary, and guaranteed by SM Prime. The notes are expected to be drawn from the company’s existing USD3 billion Euro Medium Term Note (EMTN) Program.
The issuance remains subject to prevailing market conditions.
HSBC, J.P. Morgan, Standard Chartered Bank, and UBS are acting as Joint Lead Managers and Joint Bookrunners, with BDO Capital and Chinabank Capital joining as Joint Domestic Managers.
Legal counsel for the Issuer and Guarantor includes SyCip Salazar Hernandez & Gatmaitan (Philippine law) and Latham & Watkins LLP. The Joint Lead Managers and Bookrunners are advised by Picazo Buyco Tan Fider Santos & Dee (Philippine law) and Linklaters Singapore Pte. Ltd.
This planned issuance reflects ongoing efforts of SM Prime to strengthen its capital structure and tap global capital markets to support its long-term growth strategy.
