SM Prime to issue up to P60B of retail bonds

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SY-LED SM Prime Holdings Inc. said is set to offer up to P60-billion worth of bonds to partially finance its capital spending in the next three years.

In a disclosure to the Philippine Stock Exchange on Tuesday, SM Prime said its board of directors has approved the offering to be filed as shelf registration and issued over three years.

The initial bond offering is P5 billion with an over subscription allotment of P5 billon. The fixed rate bond has maturity of 10 years.

The board of directors authorized management to negotiate and finalize the terms and conditions of the bond offer, including pricing, tenor, and size.


At the firm’s annual stockholders’ meeting in April, SM Prime said intended to P 70 billion over the next three years to partially cover its capital spending of P180 billion.

“Overall, we are committed to earmark P60 billion annually over the next three years to achieve our development roadmap and income targets by 2018. We are confident that with your support we are on our way to realizing our vision,” said SM Prime President Hans Sy.

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