SM Prime Lists its PHP10 Billion Fixed Rate Bonds on PDEx
In photo are, from left: China Banking Corporation Chief Finance Officer Patrick Cheng, China Bank Capital Corporation President Ryan Tapia, BPI Capital Corporation President Rhoda Huang, BDO Capital & Investment Corporation President Eduardo Francisco, SM Prime Holdings, Inc. CFO John C. Ong, SM Investments Corporation Treasurer Marcelo Fernando, Jr., PDS Group President Ma. Theresa Ravalo, Philippine Dealing & Exchange Corp. President and COO Antonino Nakpil, Bank of the Philippine Islands Corporate Products and Support Head Reggie Cariaso and First Metro Investment Corporation President Rabonni Arjonillo.
(07 May 2019, Makati Philippines) SM Prime Holdings, Inc. (SMPH), one of the largest property developers in Southeast Asia, returned to the PDEx organized secondary market to list its PhP 10 Billion 3-Year Series J Fixed Rate Bonds, the final tranche of its Shelf Registered Bond Program of PHP 60 Billion approved by the SEC in 2016.
Today, SM Prime’s total outstanding listed issues stand at PHP 100 Billion or 9% of the total outstanding listed bonds on PDEx, and bring the SM Group’s total outstanding listed amount to PHP 243.34 Billion or 21% of the total PHP 1.17 Trillion outstanding listed corporate securities on PDEx.
PDEx President and COO Antonino Nakpil remarked: “The scheduled returns to the debt market by SM Prime and its peers within the Issuer community are continuing reaffirmations of the depth of the domestic investor market and the value of establishing a loyal base of bondholders. These leaderships by the veteran issuers such as SMPH are key highlights to be made to any would-be corporate bond issuer of fixed income, as we strive to expand the community toward a multiple of the current 49 listed corporate bond issuers.”
SM Prime Chief Finance Officer John Ong said in his message: “The net proceeds of the issue will help finance our capital expenditure program for the construction of new malls;expansion and redevelopment of existing malls and new office projects for the period 2019-2021.”
“At this point, allow me to reiterate SM Prime’s commitment of being a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. Ending 2018, SM Prime has 72 malls in the Philippines offering 9.5 million square meters (sqm) of gross floor area (GFA) and seven malls in China with 1.3 million sqm of GF,” he added.
The event was graced by SM Prime CFO John C. Ong, SM Investments Corporation Treasurer Marcelo Fernando, Jr., BDO Capital & Investment Corporation President Eduardo Francisco, First Metro Investment Corporation President Rabonni Arjonillo, China Bank Capital Corporation President Ryan Tapia, China Banking Corporation CFO Patrick Cheng, BPI Capital Corporation President Rhoda Huang, and Bank of the Philippine Islands Corporate Products and Support Head Reggie Cariaso.