SM Prime Holdings, the property arm of the Sy family, has successfully raised over P30 billion through the sale of fixed-rate bonds.
This marks the fifth tranche of SM Prime’s P100 billion debt securities under shelf registration with the Securities and Exchange Commission.
The fixed-rate bonds, known as Series S, T, and U, carry interest rates of 6.2069 percent, 6.2151 percent, and 6.3275 percent, respectively.
With the strong reception and demand for these bonds, SM Prime gains additional resources to support its expansion programs and create more opportunities for the Filipino population, according to John Nai Peng C. Ong, SM Prime’s CFO.
The proceeds from the bond issuance will be utilized to finance the company’s expansion initiatives throughout the year.
BDO Capital & Investment Corp. and China Bank Capital Corp. acted as the joint issue managers, joint bookrunners, and joint lead underwriters for the bond sale. Additionally, BPI Capital Corp., EastWest Banking Corp., First Metro Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. were part of the underwriting syndicate involved in the transaction.
