trending Market Intelligence /marketintelligence/en/news-insights/trending/RIh18UHOpf1TwnpGQ0ogZA2 content esgSubNav
In This List

Philippines' SM Prime files shelf for 60B-peso bonds

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Philippines' SM Prime files shelf for 60B-peso bonds

SM PrimeHoldings Inc. was given the go-ahead for a shelf registration toissue 60 billion Philippine pesos worth of fixed-rate bonds over a three-yearperiod.

The company confirmed a report from The (Philippine) Standardthat said the country's Securities and Exchange Commission approved the saidshelf registration.

The firsttranche will consist of up to 5 billion pesos worth of 10-yearbonds, with an oversubscription of 5 billion pesos, the report said. Thecompany expects to proceed with the bond offering in July.

The company plans to use the net proceeds to fund capitalexpenditures and for the expansion of its commercial, office and hoteloperations, the report said.

BDO Capital and Investments Corp., BPI Capital Corp.,Chinabank Capital and First Metro Investments Corp. are the joint issuemanagers, as well as joint lead underwriters for the offering.

The shelf registration is the second largest to be filedwith the SEC, the report added.

As of July 11, US$1was equivalent to 47.38 Philippine pesos.