SM Prime Returns to the Local Debt Market with Another Set of PRS-Aaa Rated Bonds, PhP 20 Billion Fixed Rate Bonds Due 2021 and 2025Posted on: November 25, 2015
25 November 2015, Makati, Philippines – SM Prime Holdings, Inc. (SMPH) marked its second foray into the local organized debt market following its maiden issue of PhP 20 billion bonds due 2020, 2021, and 2024 last year. It listed another set of PRS-Aaa rated bonds, the SMPH PhP 20 billion Fixed Rate Bonds Due 2021 and 2025 in the Philippine Dealing and Exchange Corp. (PDEx) platform.
With SM Prime’s bond issuance, the total listed amount of the SM Group on PDEx is now PHP 75.83 Billion, representing about 14% of the total corporate fixed-income issues listed in the organized secondary market.
Similar to its first bond issue, SMPH Series D and E Bonds have again garnered positive response from both institutional and retail investors in the market, leading SM Prime to increase the size by PhP 5 Billion over the original float of PhP 15 Billion.
This tenth listing for the year brings the year-to-date total of new listings to P103.39 Billion and the total level of tradable corporate debt instruments to P535.54 billion comprised of 98 securities and issued by 34 companies.
PDS Group President & CEO Cesar B. Crisol said: “PDS Group is inspired to replicate SM Prime’s corporate virtues of persistence and commitment as it strives to deliver platforms, products, and services for the Philippine market.”
“These are virtues that all of us stakeholders must certainly emulate as our markets face more challenging local and global macroeconomic scenarios and changing regulatory environments,” Mr. Crisol added.
SMPH Chief Finance Officer John C. Ong remarked: “The retail bond we issued will largely support the funding needs of our mall expansion programs in the coming years and also to refinance loans. This is a testament to our confidence that the economic growth of the Philippines will be sustained over the medium term and will eventually have a positive impact in the provinces as growth spreads to these areas.”
The Directors and Officers of SM Prime and SM Investments Corporation (SMIC) who attended the event are SMPH President Hans T. Sy, SMIC Executive Vice President and Chief Finance Officer Jose T. Sio, SMIC Group Treasury Senior Vice President Marcelo C. Fernando,Jr., SMPH Executive Vice President Jeffrey C. Lim, and SMPH Chief Finance Officer John C. Ong.
Also present are representatives from the Joint Issue Managers, Joint Bookrunners, and Joint Lead Underwriters, including BDO Capital and Investment Corporation Senior Vice President Gabriel U. Lim, China Banking Corporation First Vice President Virgilio O. Chua, First Metro Investment Corporation Senior Executive Vice President Rabboni Francis B. Arjonillo, and Bank of the Philippine Islands Executive Vice President Dennis M. Montecillo. #