SM Prime Holdings, Inc. announced on Tuesday that it set the interest rates for its retail bonds, the fourth tranche of its P100-billion shelf registration. READ:
“SM Prime will use the proceeds of these latest retail bonds issuance to pursue the expansion plans set for the Company’s property portfolios, including malls, residential developments, offices, and hotels, which will drive further growth to the Company as well as to the communities we serve,” SM Prime Chief Finance Officer John Nai Peng C. Ong said in a company disclosure.
SM Prime said it issued an aggregate principal amount of P15 billion of the Series P, Q and R bonds, with an oversubscription option of an additional P15 billion. The retail bonds will be offered from April 7 to 13 to investors and are set to be issued on April 22, following the receipt of the permit to sell from the Securities and Exchange Commission .
SM Prime said similar to its previous bond issues, the Series P, Q and R bonds have been rated PRS Aaa by Philippine Rating Services Corp. .
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