Sy family-led property giant SM Prime Holdings finalized the interest rates for an upcoming bond offer worth as much as P25 billion.
The Philippine peso-denominated offer was divided into Series V bonds due 2027, Series W bonds due 2029 and Series X bonds due 2031. These will pay interest rates of 6.5754 percent, 6.7537 percent and 6.965 percent, respectively.
“This endeavor will help us fuel our passion of providing sustainable integrated property developments to serve more communities across the nation,” SM Prime chief finance officer John Nai Peng C. Ong said in a stock exchange filing on Wednesday.
This issuance is part of the P100 billion shelf registration of fixed-rate bonds approved by the Securities and Exchange Commission last May 23.
Th bonds will be sold from June 7 through 14.. These were rated PRS Aaa by Philippine Ratings Corp., the highest rating indicating minimal credit risk.
