Integrated property developer SM Prime Holdings Inc. is returning to the local debt market with a new bond offering amounting to as much as P10 billion.
Integrated property developer SM Prime Holdings Inc. is returning to the local debt market with a new bond offering amounting to as much as P10 billion.
In a statement, SM Prime said it filed with the Securities and Exchange Commission to proceed with the third tranche issuance of fixed-rate bonds amounting to P5 billon with an oversubscription option of up to P5 billion.
The bonds, which have a maturity of seven years, were assigned a PRS Aaa rating by the local credit watcher Philippine Rating Services Corp.
A rating of PRS Aaa, the highest rating assigned by Philratings, means that the issuer’s capacity to meet its financial commitment on its obligations is extremely strong.
SM Prime sad the issuance is part of its three-year debt securities program of up to P100 billion.
SOURCE: Bilyonaryo
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