PROPERTY developer SM Prime Holdings, Inc. has fixed the interest rate of its retail bonds due on 2023 at 2.4565 percent , while those due on 2026 at 3.8547 percent , it said in a regulatory filing to the Philippine Stock Exchange on Tuesday.

After the requisite approval has been issued from the Securities and Exchange Commission, 2.5-year series M and 5-year N retail bonds will be sold to investors from January 25 to 29. (SEC). It is released on February 5.

For the two bonds with an opportunity to over subscribe, SM Prime issues an estimated major sum of P5 billion.

SM Prime Finances Officer John Nai Peng C. Ong quoted as saying “The proceeds from the retail bonds will permit SM Prime to continue growing its core business which will fuel more expansion.

The second removal from its scheme of P 100 billion debt securities, under SEC shelf registration, is the planned issuance. According to SM Prime.

The business reported that “PRS Aaa” ratings for the M & N series of retail bonds were issued by Philippine Rating Services Corp.

The ranking is the highest offered to debt securities of the long term with the lowest investment risk by PhilRatings.

The joint issue managers for SM Prime bonds are BDO Capital and Investment Corp. and China Bank Capital Corp. They also join both firms as joint lead underwriters for the issuance, BPI Capital, First Metro Investment Corp. and SB Capital Investment Corp.

SM Prime reported a 48% fall in its combined net sales at P14.4 billion in September 2020. Consolidated earnings of the group declined 29% to P60.7 billion.


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