SMPH Series G Bonds Due 2024 Marks the 100th Listing in the PDEx Organized Secondary MarketPosted on: May 18, 2017
18 May 2017, Makati Philippines – SM Prime Holdings, Inc. (SMPH), one of the leading integrated property companies in Southeast Asia, returned to the PDEx organized secondary market a fourth time to list its latest offering of PhP 20 Billion SMPH Series G Fixed Rate Bonds Due 2024.
Today’s event constitutes a milestone as the 100th listing since the start of the corporate bond board on the organized market in 2008. It brings the total outstanding amount of bonds listed to nearly PhP 700 Billion, a long way from the PhP 10 Billion outstanding listed bonds in 2008.
PDS Group President and CEO Cesar B. Crisol said, “It is fitting that listing number 100 is from a returning Issuer, again reaffirming the now-established capability of bond investors, whether professional or public, to meet their capital funding needs. For this return trip to the market, SM Prime is doing the second tranche of its Shelf Registration of PHP 60 Billion, following the initial issue of PhP 10 Billion Bonds Due 2026 last July 2016.”
With today’s bond offering, SM Prime’s total outstanding listed issues increased to PHP 70 Billion or 10% of the total outstanding listed bonds on PDEx; and the SM Group’s total outstanding listed issues to PHP 134.42 Billion or 19% of the overall outstanding listed bonds on PDEx.
SM Prime CFO John C. Ong remarked, “We expect SM Prime’s growth to continue over the years. As our President, Mr. Jeffrey Lim has put it during our recent Annual Stockholders Meeting and I quote “Your Company is well positioned to harness the strong synergies among its businesses, and capture the positive impact of government’s higher infrastructure spending in the provincial areas that will further spur overall economic growth of the country.”
This latest listing brings the year-to-date total volume of new listings to PhP 93.04 Billion, a 370% increase from May 2016 YTD. The total level of tradable corporate debt instruments in PDEx now stands at PhP 699.67 billion issued by 43 companies, comprised of 120 securities.
SM Group Senior Officers who attended the event are SMPH Director Hans Sy, SMPH President Jeffrey Lim, SMPH Chief Finance Officer John Ong, SM Investments Corporation President Frederic DyBuncio, and SMIC Senior Vice President – Treasury Marcelo Fernando, Jr.
The issue participants were also present including BDO Capital & Investment Corporation President Eduardo Francisco, China Bank Capital Corporation Managing Director Virgilio Chua, BPI Capital Corporation Senior Vice President Rhoda Huang, First Metro Investment Corporation President Rabboni Arjonillo, PNB Capital and Investment Corporation President Gerry Valenciano, and SB Capital Investment Corporation President Noel Dayrit.#