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Manila Bulletin devider Business devider SM Prime sets rates for P20-B retail bonds

SM Prime sets rates for P20-B retail bonds

Published Apr 5, 2022 02:59 pm

SM Prime Holdings, Inc. has pegged the interest rates for its retail bonds worth up to P20 billion that will be offered from April 7-13, 2022.

In a disclosure to the Philippine Stock Exchange, SM Prime said it has set the rate for its Peso-denominated Series P, 5-year retail bond at 5.6141 per cent due on 2027; Series Q, 7-year retail bond at 6.1175 per cent due on 2029; and Series R, 10-year retail bond at 6.5432 per cent due on 2031.

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SM Prime issued an aggregate principal amount of P15.0 billion of the Series P, Q and R bonds, with oversubscription option of an additional P15.0 billion. These retail bonds will be issued on April 22, 2022.

The retail bonds will be offered by SM Prime to investors through joint issue managers BDO Capital & Investment Corporation and China Bank Capital Corporation, which are also joint bookrunners and joint lead underwriters.

Other underwriters are BPI Capital Corporation, East West Banking Corporation, First Metro Investment Corporation, RCBC Capital Corporation, and SB Capital Investment Corporation.

“SM Prime will use the proceeds of these latest retail bonds issuance to pursue the expansion plans set for the Company’s property portfolios, including malls, residential developments, offices, and hotels, which will drive further growth to the Company as well as to the communities we serve,” SM Prime Chief Finance Officer John Nai Peng C. Ong said.

The proposed issuance is the fourth tranche under the Company’s P100 billion Shelf Registration of Fixed Rates Bonds approved by the Securities and Exchange Commission.

Similar to its previous bond issues, the SM Prime Series P, Q and R bonds have been rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings).

A rating of PRS Aaa is the highest rating assigned by PhilRatings, denoting that 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 said it remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

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SM Prime Holdings Inc. John Nai Peng C. Ong
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