SM Prime Holdings, Inc. Raises PHP 33.3 Billion Fixed Rate Bonds on PDExPosted on: May 24, 2023
23 May 2023, Makati, Philippines — SM Prime Holdings, Inc. returns to PDEx with the listing of its PHP 33.3 billion worth of 2.5, 4 and 6-year bonds, the fifth and final tranche of its SEC-approved PHP 100 Billion bond program. The series S, T and U bonds carry coupon rates of 6.2069% p.a., 6.2151% p.a., and 6.3275% p.a., respectively, to be paid on a semi-annual basis.
In his welcome remarks, PDEx President and CEO Antonino Nakpil said: “We are delighted to see SM Group, a leading example of the “OG”, a firm that not only survived but thrived through past crises, be the first to march on regardless. And it is not because of corporate bravado or rosy optimism, but I suspect within the institutional DNA of SM managers over the years to be contrarian and able to visibly spot the other side of the coin of crisis – opportunity. That knowledge capital is gained from the experience of weathering through and overcoming those previous challenging periods and going back to the principles that kept the firm on track.”
On his end, SMPH CFO John Ong also expressed gratitude on behalf of the Issuer, to all parties involved in making the issuance a success. He said: “We are very grateful for the trust and support of the investing public, as well as to our bank partners, the Philippine Dealing & Exchange Corp., Philippine Depository & Trust Corp., and PDS Group. The success of this latest fixed rate bonds will give SM Prime further capabilities to pursue its expansion programs of creating more opportunities for more Filipinos to build a better nation.”
“The past three years have been very challenging for everyone, but through our resilience and perseverance, we were able to pull it off together for SM Prime. The results that we achieved during these years serve as a testament to our combined passion and strategic operation that is driven by the deep encouragement and inspiration from our customers, tenants, contractors, suppliers, our employees, our government agencies, the investing public and the communities that we work with across the Philippines,” Ong added.
This 4th admission for 2023 brings the year-to-date total of new listings to PHP 61.1 billion, pushing the total level of tradable corporate debt instruments to PHP 1.34 trillion issued by 53 companies, comprised of 190 securities.