SM Prime lists P25B in retail bonds on PDEx

📆 6/25/2024 5:43 PM
📰 TheManilaTimes

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SY-LED property developer SM Prime Holdings Inc. on Monday listed P25 billion in fixed rate retail bonds at the Philippine Dealing and Exchange Corp. (PDEx), the first tranche of a P100-billion shelf registration approved by the Securities and Exchange Commission in May.

SY-LED property developer SM Prime Holdings Inc. on Monday listed P25 billion in fixed rate retail bonds at the Philippine Dealing and Exchange Corp. , the first tranche of a P100-billion shelf registration approved by the Securities and Exchange Commission in May.The issue consisted of three-year Series V bonds due in 2027, five-year Series W bonds due in 2029 and seven-year Series X bonds due in 2031.

Proceeds will be used to refinance debt and expand SM Prime's property portfolio.Alexander Pomento, SM Prime vice president for investor relations, said the fresh funds formed part of SM Prime's P100-billion capital expenditure program for 2024, which is meant to 'support the various projects of the company that include malls, residential developments, hotels and offices.'SM Prime said that it intended to beef up its portfolio through SM Development Corp.

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