The Securities and Exchange Commission (SEC) has approved the shelf registration of SM Prime Holdings, Inc. for up to P100 billion of fixed-rate bonds.
The registration was made effective on May 23, with bonds to be offered in multiple tranches.
The first tranche will be a P20 billion offer of three-year Series V, five-year Series W, and seven-year Series X bonds, plus an oversubscription option of P5 billion.
Net proceeds, potentially reaching P24.72 billion, will be used to refinance debt and expand SM Prime's property portfolio.
The first tranche will be offered at face value from June 7 to 14 and listed on the Philippine Dealing & Exchange Corp.
