Property developer SM Prime Holdings Inc. on Tuesday set the interest for its P10-billion 7-year retail bond offering at 5.0994 percent a year.
SM Prime said in a disclosure to the stock exchange it would issue P5 billion in retail bonds with an oversubscription option for another P5 billion under Series O retail bonds. The offering period is set from Nov. 2 to 8, 2021.
The bonds will be listed in the Philippine Dealing & Exchange Corp. on Nov. 15, 2021.
“The proceeds of this latest retail bond will be used to pursue expansion opportunities across our business segments, which will help sustain the company’s growth,” SM Prime chief finance officer John Nai Peng Ong said.
The latest bond offering will be the third tranche to be issued from SM Prime’s P100-billion debt securities program approved and registered with the Securities and Exchange Commission in 2020.