SM Prime Lists PHP25-Billion Bonds on PDEx

SM Prime Holdings, Inc. (SM Prime) has successfully listed its PHP25-billion fixed rate bonds on the Philippine Dealing and Exchange Corp. (PDEx).

The bonds, designated as Series V, W, and X and maturing in 2027, 2029, and 2031 respectively, are part of the initial tranche of SM Prime’s PHP100-billion shelf registration of fixed-rate bonds. This registration was approved by the Securities and Exchange Commission (SEC) last month.

“The overwhelming demand for SM Prime’s Fixed Rate Retail Bond Series V, W, and X has led to a three-fold oversubscription, allowing us to raise an impressive PHP25 billion,” stated SM Prime Chief Finance Officer John Nai Peng C. Ong. The proceeds from these bonds will be used to refinance existing debt and expand SM Prime’s portfolio.

Ong emphasized that this achievement underscores the strong trust and confidence that shareholders, customers, business partners, and the investing community have in SM Prime.

The bonds have been rated PRS Aaa with a Stable Outlook by the Philippine Rating Services Corporation (PhilRatings), reflecting their high credit quality.

The ceremonial listing event was attended by PDEx President Antonio Nakpil, John Nai Peng C. Ong, and representatives from the joint issue managers, BDO Capital & Investment Corp. and China Bank Capital Corp. They were joined 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 reaffirmed its commitment to fostering economic growth through innovative and sustainable lifestyle developments, aiming to enrich the quality of life for millions.