SM Investments wins top award for landmark $500M bond deal

SM Investments Corporation (SMIC) has been recognized for its $500 million five-year bond issuance, winning the “Philippine Capital Market Deal of the Year” from International Financing Review Asia (IFR Asia).

The Sy-led conglomerate’s return to the US dollar bond market after a 10-year hiatus was seen as a milestone for Philippine corporate finance, marking the largest five-year deal by a Philippine corporate in 2024. The transaction, which navigated volatile market conditions, successfully secured competitive pricing at 35 basis points, reaffirming strong investor confidence in SMIC’s financial strength.

SMIC Executive Vice President for Treasury, Finance, and Planning Erwin G. Pato hailed the award-winning deal as a landmark transaction for both SMIC and the Philippine capital markets.

“The strong demand from investors reflects confidence in Philippine corporate issuers and underscores SM’s reputation as a stable and well-managed investment option,” Pato said.

IFR Asia highlighted the scarcity of Philippine corporate issuances in recent years, making SMIC’s successful bond offering a pivotal event in the region’s capital markets. The transaction also marked SMIC’s first bond issuance since its $350 million 10-year note in 2014.

The deal was arranged by top global financial institutions, with HSBC, JP Morgan, Standard Chartered, and UBS serving as joint lead managers and bookrunners, while BDO Capital and Chinabank Capital participated as joint lead managers.

SM Investments' recognition underscores its leadership in capital markets and commitment to financial excellence, further strengthening global investor confidence in the Philippine corporate sector.