SM Prime raises maiden bond offerto P20B on strong demand

Property giant SM Prime Holdings Inc., a subsidiary of listed conglomerate SM Investments Corp., responded to strong demand by expanding its maiden bond offering to P20 billion from an initial plan to raise P15 billion.

In a statement, SM Prime said P5 billion of the P10 billion oversubscription option was used to meet strong investor demand, particularly from individuals to banks, investment funds, pension funds, insurance companies, and other corporate entities. The P10 billion oversubscription option was apart from the previous P15 billion funds to be raised.