SM Prime Holdings, Inc. (SM Prime) has set the interest rates for its
Peso-denominated Series G, 7-year retail bonds at 5.1683% p.a last May 2. SM
Prime issued an aggregate principal amount of PHP15.0 billion of the Series G
bonds, with an option to issue an additional amount of up to PHP5.0 billion.
The retail bonds will be offered by SM Prime to investors through underwriters
from May 4 to May 11, following the receipt of the Permit to Sell from the
Securities and Exchange Commission. The retail bonds are set to be issued on
May 18.
“The proceeds of the retail bonds will enable SM Prime to pursue our
expansions of mall and residential businesses, which are the growth drivers of
the company,” SM Prime President Jeffrey C. Lim said.
This series of SM Prime bonds due 2024 is the fourth offering of
Peso-denominated retail bonds to the public. Similar to its previous bond
issues, the SM Prime Series G bonds have been rated PRS Aaa by Philippine
Rating Services Corporation (PhilRatings). 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.
The SM Prime bonds’ joint issue managers are BDO Capital &
Investment Corporation and China Bank Capital Corporation, which are also
acting as joint lead underwriters and joint bookrunners together with BPI
Capital Corporation, PNB Capital, First Metro Investment Corporation, and SB
Capital Investment Corporation.
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. (PR)
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