SM Prime eyes offshore bond market for capex

SM Prime Holdings Inc. (SMPH), one of Southeast Asia’s largest integrated property developers, is planning to raise a yet undetermined amount from the issuance of dollar-denominated notes to Asian and European investors.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), SM Prime Chief Finance Officer (CFO) John Nai Peng C. Ong said the firm has mandated investment houses to arrange a series of fixed-income investor calls in Asia and Europe, commencing on Sept. 8, 2025.

HSBC, J.P. Morgan, Standard Chartered Bank, and UBS have been named as joint lead managers and joint bookrunners, alongside BDO Capital and Chinabank Capital as joint domestic managers.

“A United States dollar (USD)-denominated benchmark-sized regulation S offering of five-year senior notes by SMPHI SG Holdings Pte. Ltd. guaranteed by SMPH may follow, subject to market conditions. The notes are expected to be drawn from the issuer’s $3-billion-euro medium-term note program,” SM Prime said.