SM Prime to raise P10B

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    SM Prime Holdings Inc. plans to raise P10 billion from the remaining tranche of its P100-billion shelf-registered bonds approved by the Securities and Exchange Commission in February this year.

    The issuance will be divided into an initial P5 billion and another P5 billion for the oversubscription.

    Philippine credit rate Philippine Rating Services Cor.o (Philratings) assigned the bond a rating of PRS Aaa, the highest rating it gives, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong, SM Prime said.

    PhilRatings also assigned a stable outlook for the ratings of the proposed and outstanding bonds.