SM Prime lists thrice-oversubscribed P25-B bonds on bourse

SM Prime Holdings, Inc. (SM Prime), one of the top integrated property developers in Southeast Asia, listed its latest P25-billion fixed rate retail bonds on the Philippine Dealing and Exchange Corp. (PDEx) on Monday.

The bonds – due in 2027, 2029, and 2031 – mark the first tranche of SM Prime's P100-billion shelf registration of fixed rate bonds approved by corporate regulators last month, the company told the bourse.

The bonds saw overwhelming demand, resulting in a three-fold oversubscription.

"The successful listing of SM Prime's fixed rate retail bond have been met with overwhelming demand from the investing public, resulting in a three-fold oversubscription that has allowed us to raise an impressive P25 billion,” SM Prime chief finance officer John Nai Peng Ong said

“This remarkable success is a testament to the unwavering trust and confidence that our shareholders, customers, business partners, and the investing community have placed in SM Prime,” he added.

Rated PRS Aaa with a Stable Outlook by PhilRatings, the bonds are managed by BDO Capital & Investment Corporation and China Bank Capital Corporation, among others.