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SM Prime Holdings, Inc. Returns to PDEx with PHP 10 Billion Fixed Rate Bonds
Posted on: February 5, 2021
05 February 2021, Makati, Philippines — SM Prime Holdings, Inc. (SMPH) returns to the local debt market today with the listing of its PHP 10 Billion 2.5 and 5 years Series M and N Fixed Rate Bonds at 2.4565% and 3.8547% per annum, respectively, to be paid semi-annually.
SMPH is one of the leading property developers in Southeast Asia and has been in the industry for over 2 decades.
In his welcome remarks, PDEx President and Chief Executive Officer Antonino A. Nakpil noted that the issuance exceeded its original size due to strong investor demand. “We are delighted to note that like its previous issuances, today’s bond issue was likewise well received by SMPH’s investors and upsized from the original size of PHP 5 Billion.”, said Mr. Napkil.
“This is of course in keeping with its strategy of steady expansion, now a hallmark corporate characteristic that SMPH has well established over the years.”, noted Mr. Napkil as he congratulated SMPH for receiving the ASEAN Asset Class Award in the recent ASEAN Corporate Governance Scorecard (ACGS) Awards
On the other hand, SMPH CFO Mr. John C. Ong stressed that the satisfaction of their stakeholders is their utmost priority amid the global pandemic. “The year 2020 has been a real challenge for everyone but this should not hinder us from our goals and we must use it to further strengthen our push for our objectives while continually helping our various stakeholders”, noted Mr. Ong.
Mr. Ong further assured their stakeholders by speaking about the ratings their bonds received respectively. “The SM Prime Series M and N Bonds have been rated PRS Aaa by the Philippine Rating Services Corporation”, mentioned Mr. Ong.
This 1st listing for 2021 brings the year-to-date total of new listings to PHP 10 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.45 Trillion issued by 57 companies, comprised of 208 securities.