METRO MANILA – SM Prime Holdings, one of the leading integrated property developers in Southeast Asia, announced that it has held the virtual listing ceremony of its latest P10-billion Fixed Rate Bond Series M and N offering.
SM Prime Chief Finance Officer John Nai Peng C. Ong and Philippine Dealing & Exchange Corp. (PDEx) President and CEO Mr. Antonio Nakpil led the first bond listing for the Year 2021 through a virtual ceremonial event.
The joint issue managers, BDO Capital & Investment Corporation and China Bank Capital Corporation, who are also acting as joint lead underwriters along with BPI Capital, First Metro Investment Corporation, and SB Capital Investment Corporation, were also present virtually.
SM Prime’s Peso-denominated Series M is set at 2.4565 per cent due on 2023, and Series N at 3.8547 per cent due on 2026. This issuance is the second drawdown from the Company’s PHP100 billion debt securities program under shelf registration registered with the Securities and Exchange Commission (the “SEC”) (the “Debt Securities Program”) under SEC MSRD Order No. 6, Series of 2020.
A rating of PRS Aaa is the highest rating assigned by PhilRatings. This rating is given to long-term debt securities with the smallest degree of investment risk. This also indicates SM Prime’s strong capability to meet its financial commitment.
SM Prime 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.
Ong earlier said that the proceeds of the retail bonds will allow SM Prime to continue its expansions plans in its core business, which will further drive the company’s growth.
Last November, SM Prime opened its latest mall in the Philippines, the SM City Butuan. Located in the highly urbanized City of Butuan, Agusan del Norte in Mindanao, this latest development is the sixth SM mall in Mindanao and first in the CARAGA Region, adding 48,000 square meters (sqm.) of gross floor area (GFA) in the Company’s portfolio.
SM City Butuan is located along JC Aquino Avenue in Butuan City, and is set to be a major hub in Northeastern Mindanao adding entertainment and economic activities in Agusan del Norte as well as the nearby provinces of Agusan del Sur, Dinagat Islands, Surigao del Norte, and Surigao del Sur. – BusinessNews.ph
