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SM Prime Retail Bonds Upsized to Php20 billion

(September 01, 2014 Pasay City, Philippines) SM Prime Holdings, Inc. (SMPH) has upsized its retail bond issue to Php20 billion from the initial size of Php15 billion due to the strong demand from both retail and institutional investors. This is SMPH’s maiden offering of retail bonds in the public market. The issue consists of the 5.1000% Series A bonds due 2020, 5.2006% Series B bonds due 2021 and 5.7417% Series C Bonds due 2024.
 
The bonds were purchased by a wide spectrum of investors ranging from individuals in the retail market to banks, investment funds, pension funds, insurance companies and other corporates. The strong market response prompted the joint issue managers and joint lead underwriters to exercise the company’s oversubscription option. The offer period for the SMPH bonds opened on August 13, 2014 and closed on August 22, 2014. The issue date is on September 1, 2014.
 
SMPH’s bonds are rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings), the highest rating assigned by PhilRatings. The rating denotes 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.
 
The joint issue managers and joint bookrunners of the SMPH bonds are BDO Capital & Investment Corporation and First Metro Investment Corporation, which also acted as joint lead underwriters together with BPI Capital Corporation and China Banking Corporation. Land Bank of the Philippines, Philippine Commercial Capital Inc., PNB Capital and Investment Corporation, RCBC Capital Corporation and SB Capital Investment Corp. acted as participating underwriters of the bond issue.
 
 
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For further information, please contact:
 

Alexander D. Pomento
Vice President for Investor Relations
SM Prime Holdings, Inc.
Tel. #: +63 2 862 7940
Date: 
Monday, September 1, 2014