Real estate giant SM Prime Holdings Inc. will raise up to P17 billion from the bond market next month as it undertakes an aggressive retail expansion.
The Sy family-led developer on Wednesday said the issuance would be composed of Series AB bonds priced at 5.9096 percent due in 2030, Series AC bonds at 6.0858 percent due in 2032 and Series AD bonds at 6.2855 percent due in 2035.
SM Prime will issue a principal amount of P12 billion, with an oversubscription option of up to P5 billion in case of high demand, the company said in a regulatory filing.
The offer period will run from Nov. 3 to 7.
This represents the third tranche of SM Prime’s P100-billion shelf-registered fixed rate bonds approved in 2024.