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Report: SM Prime's bonds 4.8x oversubscribed

said itsissuance of 10 billion Philippine pesos of bonds was more than 4.8xoversubscribed at the base offer, The (Philippines)Standard reported.

Ma. TeresaCecilia Reyes, SM Prime vice president for finance, reportedly said that thetotal demand for the first-tranche bonds amounted to 29 billion pesos. Thecompany plans to issue the 4.2005%bonds on July 26.

The bonds comprise the first tranche of the company's 60billion-peso shelf.

BDOCapital & Investment Corp., BPI Capital Corp., China Bank Capital Corp. andFirst Metro Investment Corp. are the joint issue managers, joint leadunderwriters and joint book runners. East West Banking Corp., PNB Capital andInvestment Corp. and United Coconut Planters Bank are the participatingunderwriters for the issue.

As of July 20, US$1 wasequivalent to 47.14 Philippine pesos.