SM Prime Holdings Inc., a leading integrated property developer in the Philippines, has announced the coupon rates for its P25-billion fixed rate retail bond offering. The bond offer, running from Wednesday to Tuesday next week, comprises three series with maturities in 2023, 2028, and 2035, offering varying coupon rates of 6.0282 percent, 6.2113 percent, and 6.4784 percent, respectively. The proceeds will be used for debt refinancing and capital expenditures, with SM Prime planning significant investments in its malls and property businesses.
SY family-led integrated property developer SM Prime Holdings Inc. has set the returns for a P25-billion fixed rate retail bond offering that will run from Wednesday to Tuesday next week.In a disclosure on Monday, SMPH said that it had set a coupon rate of 6.0282 percent for series Y bonds due 2023, 6.2113 percent for series Z bonds due 2028 and 6.4784 percent for series AA bonds due 2035.The retail bond offer has a base size of P20 billion and an oversubscription option of up to P5 billion.
'The assigned issue ratings take into consideration SMPH's sustained recovery in profitability; strong liquidity; sound capitalization; well-experienced shareholders and seasoned management; and solid brand equity,' PhilRatings said.SM Prime late last year said it was eyeing capital expenditures of around P100 billion to P110 billion for 2025 to fund the opening or refurbishing of its malls across the country.
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