SM Prime Issues Interest Rates for Retail Bonds Series M and N

SM Prime Holdings, Inc. (SM Prime) has set the interest rates for its Peso-denominated Series M, 2.5-year retail bond at 2.4565 percent due on 2023, and Series N, 5-year retail bond at 3.8547 percent due on 2026.

SM Prime issued an aggregate principal amount of PHP5.0 billion of the Series M and N bonds,

with oversubscription option of an additional PHP5.0 billion. The retail bonds will be offered by SM Prime to investors through underwriters from January 25 to 29, following the receipt of the Permit to Sell from the Securities and Exchange Commission. The retail bonds are set to be issued on February 5, 2021.

“The proceeds of the retail bonds will allow SM Prime to continue its expansions plans in its core business, which will further drive the company’s growth,” SM Prime Chief Finance Officer John Nai Peng C. Ong said.

The proposed issuance is the second drawdown from SM Prime’s PHP100 billion debt securities program under shelf registration registered with the Securities and Exchange Commission (the “SEC”) (the “Debt Securities Program”) under SEC MSRD Order No. 6, Series of 2020. Similar to its previous bond issues, the SM Prime Series M and N bonds have been rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings). A rating of PRS Aaa is the highest rating assigned by PhilRatings. This rating is given to long-term debt securities with the smallest degree of investment risk. This also indicates SM Prime’s strong capability to meet its financial commitment.

The SM Prime bonds’ joint issue managers are BDO Capital & Investment Corporation and China Bank Capital Corporation, which are also acting as joint lead underwriters together with BPI Capital, First Metro Investment Corporation, and SB Capital Investment Corporation.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

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