SM Prime Holdings, Inc. Sets Interest Rates for Fixed Rate Retail Bond Series V, W, and X

SM Prime Holdings, Inc. (SM Prime) today announced the interest rates for its Peso-denominated Fixed Rate Bonds Series V due in 2027 (3 years), Series W due in 2029 (5 years), and Series X due in 2031 (7 years).

The company will issue P20 billion in total, including an oversubscription option of P5 billion. The planned sale falls within the company's P100 billion Shelf Registration of Fixed Rate Bonds, which was approved by the Stock and Exchange Commission (SEC) on May 23, 2024. The Bonds' offer period will run from June 7 to 14, 2024.

“SM Prime recognizes the support of SEC in our pursuit of growth opportunities through our newest PHP100 billion bond program. This endeavor will help us fuel our passion of providing sustainable integrated property developments to serve more communities across the nation,” SM Prime Chief Finance Officer John Nai Peng C. Ong said.

Philippine Rating Services Corporation (PhilRatings) has rated Series V, W, and X as PRS Aaa. The PRS Aaa rating is the highest rating granted by PhilRatings, indicating that such obligations are of the highest quality with minimum credit risk and that the issuing company’s capacity to meet its financial commitment to the obligations is extremely strong.

SM Prime's Series V, W, and X Bonds will be made available to investors through joint issue managers BDO Capital & Investment Corporation and China Bank Capital Corporation, which are also joint bookrunners and joint lead underwriters, along with BPI Capital Corporation, EastWest Banking Corporation, First Metro Investment Corporation, Land Bank of the Philippines, and SB Capital Investment Corporation, following the receipt of the Permit to Sell from the Securities. The retail bonds are scheduled to be issued on June 24, 2024.

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.