Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

SM Prime lists P30-B bonds

SM PRIME Holdings, Inc. listed on Tuesday more than P30 billion worth of fixed-rate bonds on the Philippine Dealing & Exchange Corp. (PDEx), as it pursues its expansion plans.

“The success of this latest fixed rate bonds will give SM Prime further capabilities to pursue its expansion programs of creating more opportunities for more Filipinos to build a better nation,” SM Prime Chief Finance Officer John Nai Peng C. Ong said in a statement.

He added that he was “grateful for the trust and support of the investing public” as well as the company’s bank partners, PDEx, Philippine Depository & Trust Corp., and the PDS Group.

In a regulatory filing, SM Prime said that it listed its Series S, T, and U fixed-rate bonds, which were offered on May 8 to 12. The company raised at least P30 billion from its base offering of P25 billion, with an oversubscription of P10 billion.

The company earlier disclosed that it had set rates for its Series S bonds due in 2025 at 6.2069%; Series T bonds due in 2027 at 6.2151%; and Series U due in 2029 at 6.3275%.

The issuance is under its P100-billion shelf-registration of fixed-rate bonds, which was approved by the Securities and Exchange Commission in February 2020.

The company had tapped BDO Capital & Investment Corp. and China Bank Capital Corp. as joint bookrunners and joint lead underwriters together with BPI Capital Corp., EastWest Banking Corp., First Metro Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp.

It said earlier that its fixed-rate bonds had been rated PRS Aaa by the Philippine Rating Services Corp. The rating is the highest assigned, “denoting that such obligations are of the highest quality with minimal credit risk and the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.”

“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,” the company said.

Its shares rose 1.47% or P0.50 to P34.50 each at the stock exchange on Tuesday. — Adrian H. Halili

You May Also Like

Editor's Pick

THE BOARD of directors of Ayala-led ACEN Corp. has approved the availing of credit facilities amounting to about P7.8 billion from two financial institutions....

Editor's Pick

STOCK PHOTO Image by StockSnap from Pixabay HYDERABAD – When Saloni Singh was little, she would beg then brawl with her brother for a turn on...

Editor's Pick

HOLCIM PHILIPPINES FACEBOOK PAGE LOCAL cement manufacturer Holcim Philippines, Inc. has partnered with South Korean cement and concrete producer Sungshin Cement Co. Ltd. to...

Editor's Pick

The Philippine economy grew by 6.4% in the first quarter, the slowest growth in two years. — PHILIPPINE STAR/ MICHAEL VARCAS By Luisa Maria...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.