SM Prime Returns to the PDEx Organized Secondary MarketPosted on: July 26, 2016
26 July 2016, Makati Philippines – SM Prime Holdings, Inc. returned to the PDEx organized secondary market listing the first tranche from its PhP 60 Billion Shelf Registration, the PhP 10 Billion fixed rate bonds due 2026. This followed SM Prime’s maiden issuance of PhP 20 billion fixed rate bonds in 2014.
With SM Prime’s bond issuance, the total listed amount of the SM Group on PDEx shall be PHP 84.83 Billion, representing 14.47% of the total corporate fixed-income issues in the organized secondary market. This also marks the third issuance and listing for July, the first month into the new administration, a good sign of the positive sentiment of the business sector toward the Philippine economic prospects.
This seventh listing for the year brings the year-to-date total of new listings to PhP 55.96 billion and the total level of tradable corporate debt instruments to PhP 586.07 billion issued by 37 companies, comprised of 107 securities.
SM Prime Senior Vice President and Chief Finance Officer John C. Ong remarked: “The Php10 billion we have raised will give SM Prime greater opportunity to sustain its development roadmap that is geared towards provincial expansion for malls and offices development. Our budgeted capital expenditure program of at least Php60 billion a year that is partially funded by the retail bond, is a testament to management’s confidence that the economic growth of the Philippines will be sustained over the medium term and eventually this will have a positive impact in the key provinces where large areas remain underserved.”
In his welcome remarks, PDS Group President and CEO Cesar B. Crisol likewise commended SM Prime’s plans and efforts to expand and develop the country’s up and coming regional cities. Mr. Crisol also complimented the pioneering leadership of Mr. Hans Sy in positioning SM Prime as a catalyst for the betterment of the quality of life for the Filipinos and extended the Group’s best wishes to incoming president Mr. Jeffrey Lim as he carries the mantle forward.
“The PDS Group hopes to witness SM Prime’s continuing confidence in tapping the domestic capital markets and thereby providing investment alternatives to its growing community of bondholders,” Mr. Crisol added.
The event was held at the PDS Group Assembly Hall and was graced by SM Group Directors and Officers, including SMPH President Hans Sy, SMPH Executive Vice President Jeffrey Lim, SMPH Senior Vice President and Chief Finance Officer John Ong, and SMIC Senior Vice President and Group Treasurer Marcelo Fernando Jr.
Representatives from the issue participants who attended the event are BDO Capital & Investment Corporation President Eduardo Francisco, BDO Unibank, Inc. Executive Vice President Edmundo Soriano, Bank of the Philippine Islands President and CEO Cezar Consing, BPI Capital Corporation Senior Managing Director Reginaldo Anthony Cariaso, China Bank Capital Corporation President Romeo Uyan, Jr., First Metro Investment Corporation President Rabboni Francis Arjonillo, PNB Capital and Investment Corporation President Gerry Valenciano, and United Coconut Planters Bank Vice President Ulysses Mina. #