Connect with us

Hi, what are you looking for?

News

SM Prime sets rate for P10-billion seven-year bond offer at 5.0994%

SM PRIME Holdings, Inc. has priced its its seven-year P10-billion retail bond Series O, which is the third tranche of its P100-billion shelf-registered fixed-rate papers, at 5.0994% per annum, it said on Tuesday.

The offer comprises a P5-billion principal offer, with an oversubscription option of up to P5 billion.

The bonds will be offered until Nov. 8, after receiving the permit to sell from the Securities and Exchange Commission, while its issuance is slated for Nov. 15.

“The proceeds of this latest retail bond will be used to pursue expansion opportunities across business segments, which will help sustain the company’s growth,” SM Prime Chief Finance Officer John Nai Peng C. Ong said in a statement on Tuesday.

SM Prime assigned BDO Capital & Investment Corp. and China Bank Capital Corp. as the bonds’ joint issue managers. They will be joined by BPI Capital Corp., East West Banking Corp., First Metro Investment Corp., SB Capital Investment Corp., and RCBC Capital Investment Corp. as joint lead underwriters.

SM Prime’s seven-year Series O bond received a PRS Aaa rating from the Philippine Rating Services Corp., the highest issued by the debt watcher, which is “given to long-term debt securities with the smallest degree of investment risk.”

The rating also signifies the company’s capability to meet its financial obligations.

The P10-billion Series O bonds are part of the company’s P100-billion shelf-registered fixed-rate bonds.

The first tranche of the papers, which was made up of P15-billion fixed-rate bonds with five-year (4.8643% per annum) and seven-year (5.0583% per annum) terms, was issued in March last year.

Meanwhile, the second tranche with P10-billion fixed-rate bonds with terms of two-and-a-half years (2.4565% per annum) and five-year (3.8547% per annum) was issued in February.

Shares of SM Prime at the stock market improved by 1.21% or 40 centavos to close at P33.50 apiece on Tuesday. — K.C.G. Valmonte

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Follow us on Spotify BusinessWorld B-Side The Filipino workforce is gradually adapting to a work environment that has been changed forever due to the pandemic....

News

The Department of Environment and Natural Resources (DENR) has given recognition to volunteers and partners who had significant contribution to the cleanup and rehabilitation...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Former client, Jennifer Pacquing on her experience with Planning for Canada services. Planning for Canada – Planifier pour le Canada (PfC) is pleased to...

News

Windmills are seen in Pililia, Teresa, Rizal province on April 25. — PHILIPPINE STAR/ MICHAEL VARCAS THE INCOMING Marcos administration should consider the full...

News

THE PHILIPPINE central bank should deliver more aggressive rate hikes in order to curb inflation that is now expected to reach 5% this year,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.