SM Prime Lists PhP 20 Billion Fixed Rate Bonds Due 2023 and 2025 in the PDEx Organized Secondary MarketPosted on: March 1, 2018
01 March 2018, Makati Philippines – SM Prime Holdings, Inc. (SMPH), one of the biggest integrated property developers in the country and also one of the largest in Southeast Asia based on market capitalization, returned to the PDEx organized secondary market a fifth time to list its latest offering of PhP 20 Billion SMPH Series H Fixed Rate Bonds Due 2023 and Series I Fixed Rate Bonds Due 2025.
For this return trip to the market, SM Prime is executing the third tranche of its Shelf Registration of PhP 60 Billion, following the initial issues of PhP 10 Billion Bonds Due 2026 last July 2016 and PhP 20 Billion Bonds Due 2024 last May 2017.
With today’s bond offering, SM Prime’s total outstanding listed issues will be PhP 90 Billion or 11% of the total outstanding listed bonds on PDEx, bringing the SM Group’s total outstanding listed issues to PhP 175.236 Billion or 21% of the overall outstanding listed bonds on PDEx.
SM Prime Chief Finance Officer John Ong led the ringing of the ceremonial bell to herald the start of trading of the SMPH Bonds Due 2023 and 2025 in the PDEx bourse. He stressed SM Prime’s commitment as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities to enrich Filipinos’ quality of life. “We express our sincere gratitude for your continued support and commitment. We are sincerely grateful for the unwavering trust and continued confidence in SM Prime as we embark on this funding program,” Mr. Ong said.
PDEx President and COO Antonino Nakpil remarked: “We note that today’s issue comfortably moved from a “large” PhP 15 Billion to a “jumbo” PhP 20 Billion issuance as bond investors have continued to display robust demand for SM’s instruments. This is indeed a far cry from the days when PHP 5.0 Billion 3-year bond was the “jumbo” issue. We are heartened by this development and look to further perpetuate this virtuous cycle of stable investor demand continually powering the funding requirements of the corporate community.”
This latest listing brings the year-to-date total volume of new listings to PhP 23 Billion, pushing the total level of tradable corporate debt instruments in PDEx to PhP 815.53 Billion issued by 45 companies, comprised of 130 securities.
The event was also attended by SM Investments Corporation Senior Vice President – Treasury Marcelo Fernando, Jr. and the Issue Underwriters including BDO Capital and Investment Corporation President Eduardo Francisco, China Bank Capital Corporation President Ryan Martin Tapia, China Bank Capital Managing Director Virgilio Chua, BPI Capital Corporation President Reginaldo Anthony Cariaso, First Metro Investment Corporation Vice President Melissa Dimayuga, PNB Capital and Investment Corporation Senior Vice President Victor Abad, Union Bank of the Philippines Chief Finance Officer and Treasurer Jose Emmanuel Hilado, and East West Banking Corporation Investment Banking Head Gerald Abrogar. #