SM Prime Holdings, Inc. Lists PHP 10 Billion Fixed Rate Bonds on PDExPosted on: November 15, 2021
15 November 2021, Makati, Philippines — Today marks another listing event for SM Prime Holdings, Inc. (SMPH) at the Philippine Dealing & Exchange Corp. (PDEx). SMPH listed its Series O Fixed Rate Bonds amounting to PHP 10 Billion, with interest rates set at 5.0994% due on 2028. This issuance is the third tranche of debt securities to be issued from SM Prime’s PHP100 billion Debt Securities Program registered with the Securities and Exchange Commission (the “SEC”) under shelf registration pursuant to SEC MSRD Order No. 6 Series of 2020.
PDEx President and CEO Antonino A. Nakpil in his welcome remarks said: “We note that all the proceeds for this listing will go to capital expenditures to fund new malls, mall expansions, and projects scheduled for completion mostly in 2022 and 2023, indicating SMPH’s preparation for the re-opening of the economy and this is an important signal from one of the most seasoned Issuers.”
For his part, SMPH Chief Finance Officer John C. Ong remarked: “The challenges brought about by the COVID-19 pandemic condition taught us so many lessons in life and in business that further strengthened our commitments to our stakeholders. We were pushed to go beyond what we can do for our people and for our nation, while continuously delivering sustainable developments that are set to drive growth for the benefit of millions of Filipino people.”
This 19th listing for 2021 brings the year-to-date total of new listings to PHP 186.59 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.31 Trillion issued by 53 companies, comprised of 191 securities.