SM Prime Holdings Inc. has set the coupon rates of its multi-series peso-denominated bonds.
The largest mall developer in the country said it is pricing its series P, 5-year retail bond at 5.6141 percent due on 2027; series Q, 7-year retail bond at 6.1175 percent due on 2029; and series R, 10-year retail bond at 6.5432 percent due on 2031.
The bonds will be sold at an initial tranche of P15 billion with another P15 billion to cover the oversubscription option.
The bonds will be sold on April 7 to 13, 2022.
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, according to John Nai Peng Ong, SM Prime chief finance officer.
Serving as joint issue manager are BDO Capital & Investment Corp. and China Bank Capital Corp., which together with BPI Capital Corp., East West Banking Corp., First Metro Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp., will serve as joint bookrunners and joint lead underwriters. – Ruelle Castro
