SM Prime Sets Interest Rates for the First Tranche Issuance of its Fixed Rate Bonds

(28 February 2020, Pasay City, Philippines) SM Prime Holdings, Inc. (SM Prime) secured SEC clearance on February 12, 2020 for the PHP100 billion shelf registration to be offered within a period of three years. The first tranche to be offered will consist of Peso-denominated Series K and L, 5-year and 7-year fixed rate bonds, with an initial offering of PHP15 billion and with an option to issue an additional amount of up to PHP5.0 billion. The interest rates for the Series K and Series L Bonds have been set at 4.8643% p.a. and 5.0583% p.a., respectively. The bonds are set to be issued on March 25.


“SM Prime is set to establish further integrated property developments in various developing provincial cities in the Philippines. The proceeds from the retail bond will enable the Company to pursue it expansions plans for its core businesses, primarily of its malls projects, which is one of the main growth drivers of the Company,” SM Prime President Jeffrey C. Lim said.


This series of SM Prime bonds due on 2025 and 2027 is the seventh offering of Peso-denominated retail bonds to the public. Similar to its previous bond issues, the SM Prime Series K and L bonds have been rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings). A rating of PRS Aaa is the highest rating assigned by PhilRatings. This rating is given to long-term debt securities with the smallest degree of investment risk. This also indicates SM Prime’s strong capability to meet its financial commitment.


The SM Prime bonds’ joint issue managers are BDO Capital & Investment Corporation and China Bank Capital Corporation, which are also acting as joint lead underwriters and joint bookrunners together with BPI Capital Corporation, EastWest Banking Corporation, First Metro Investment Corp., RCBC Capital Corporation and SB Capital Investment Corp.


SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.


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For further information, please contact:
Alexander Pomento

Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 8862 7940