SM Prime Proposed Bond Issue Rated PRS Aaa

Pasay—(PHStocks)—SM Prime Holdings Inc. (PSE: SMPH) has filed with the Securities and Exchange Commission an application for a permit to sell for the issuance of fixed-rate bonds in the amount of ₱15 billion comprised of seven (7)-year Series “G” Bonds due on 2024 with an over-subscription option of up to ₱5 billion. The issuance is part of the Company ₱60 Billion Shelf Registration of Fixed Rate Bonds approved by the Commission on 8 July 2016 under SEC MSRD Order No. 11 series of 2016 dated 12 July 2016.

The Philippine Rating Services Corp. (Philratings) assigned a rating of PRS Aaa to SM Prime’s proposed bond issue. The bonds are part of the company’s proposed 3-year Debt Securities Program of up to PhP60 billion. The rating for SMPH’s outstanding bonds amounting to PhP50 billion was likewise maintained at PRS Aaa. PhilRatings assigned a Stable outlook for the ratings of the proposed and outstanding bonds.

PRS Aaa is the highest rating assigned by Philratings, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.

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