The Philippine Star
November 1, 2025 | 12:00am
MANILA, Philippines — SM Prime Holdings Inc., the integrated property development arm of the Sy family’s SM Group, has been cleared to proceed with its plan to raise as much as P17 billion through a retail bond offering.
SM Prime said it has received from the Securities and Exchange Commission (SEC) the certificate of permit to offer securities for sale for the offer and issuance of fixed-rate retail bonds in the amount of P12 billion, with an oversubscription option of up to P5 billion.
The offer period of the bonds will run from Nov. 3 to 7.
Interest rates for the peso-denominated fixed rate bonds have been set at 5.9096 percent for Series AB due on 2030, 6.0858 percent for Series AC due on 2032 and 6.2855 percent for Series AD due on 2035.
The issuance is the third tranche out of the company’s P100 billion shelf registration of fixed rate bonds approved by the SEC.
SM Prime chief finance officer John Nai Peng Ong earlier said the company is looking to tap the bond market by the fourth quarter to raise around P15 billion to P20 billion to refinance maturing debt.
Similar to SM Prime’s previous bond issues, the Series AB, AC and AD have been rated PRS Aaa by Philippine Rating Services Corp.
A PRS Aaa rating is the highest rating assigned by PhilRatings, indicating that such obligations are of the highest quality with minimal credit risk and the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.
SM Prime is on track with its P100-billion capital expenditures plan this year, with investments focused on high-impact developments that will build long-term value. – Richmond Mercurio
