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SM Prime sets P17-B debt refinancing
Manila Bulletin
|September 15, 2025
After interest rates have been cut, Sy-led SM Prime Holdings Inc. (SM Prime) is now planning to refinance debt with a P17-billion bond offering just after raising $350 million from United States (US) dollar-denominated notes.
SM Prime, one of Southeast Asia’s largest integrated property developers, is planning to issue bonds worth P12 billion, with an oversubscription option of up to P5 billion.
The proposed issue represents the third tranche of the company’s shelf registration debt securities program of up to P100 billion.
Philippine Rating Services Corp. (PhilRatings) said it has assigned the highest issue credit rating of PRS Aaa to SM Prime’s proposed bond issuance.
The ratings agency also maintained its issue rating of PRS Aaa for SM Prime’s outstanding bonds amounting to P141.5 billion. A stable outlook has been assigned for the proposed and outstanding bonds.
Dit verhaal komt uit de September 15, 2025-editie van Manila Bulletin.
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