SM Prime Holdings, Inc. Returns to PDEx to List PHP 30 Billion Fixed Rate BondsPosted on: April 22, 2022
22 April 2022, Makati, Philippines — SM Prime Holdings Inc. (SMPH) returned to the local debt market for the listing of its PHP 30 Billion series P, Q, and R five (5), seven (7), and ten (10) year Fixed Rate Bonds. The bonds carry coupon rates of 5.6141%, 6.1175%, and 6.5432%, respectively, to be paid semi-annually.
Today’s issuance and listing marks the 3rd listing ceremony for the SM Group, listing a total amount of PHP 97.7 Billion for 2022 thus far. This is the 4th tranche of SMPH’s PHP 100 Billion bond shelf registration program approved by the SEC.
PDEx President and CEO Antonino A. Nakpil opened the ceremony through his welcome remarks. “It may not be a surprise for SMPH but the investible liquidity of domestic investors has been constant and consistently present. This issue is no exception and from its base offer of PHP 15 billion, we understand the total tenders for your issues amounted to a shade under PHP 62 Billion, above 4 times oversubscribed” said Mr. Nakpil as he congratulated SMPH for yet another oversubscription.
SMPH Chief Finance Officer John Nai Peng C. Ong also took the opportunity to share a few words. He said: “Since the onset of the pandemic in March 2020, SM Prime has been active in helping its public and private partners to rise above this unprecedented crisis. The results that we achieved in 2021 gave us a lot of encouragement to pursue our business recovery plan while continuously providing services to our customers, shareholders, public and private partners, communities and employees.”
This 9th listing for 2022 brings the year-to-date total of new listings to PHP 192.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.37 Trillion issued by 54 companies, comprising of 194 securities.