SM Prime Sets Interest Rates for PhP15 Billion Retail Bonds

Pasay—(PHStocks)—SM Prime Holdings Inc. (PSE: SMPH) 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 billion of the Series G bonds, with an option to issue an additional amount of up to PhP5 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 Corp. (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 Corp., PNB Capital, First Metro Investment Corp., and SB Capital Investment Corp.

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.