SM Prime raises P5B for expansion | Inquirer News

SM Prime raises P5B for expansion

/ 08:40 AM January 16, 2012

MANILA, Philippines—SM Prime Holdings Inc. has raised P5 billion from the issuance of fixed-rate debt notes, generating long-term funds for expansion of its businesses in the Philippines and China.

In a disclosure to the Philippine Stock Exchange on Friday, the country’s largest shopping mall developer announced the completion of a fixed-rate debt issuance arranged by a syndicate consisting of Australia and New Zealand Banking Group Ltd., ING Bank N.V. and RCBC Capital Corp.

The issuance was for five-year, seven-year, and 10-year fixed-rate notes, proceeds from which will be used for general corporate requirements, the disclosure said.

Article continues after this advertisement

SM Prime currently has 41 SM Supermalls in the Philippines with a total gross floor area of 5.0 million square meters..

This year, it is set to open new malls in five different locations namely, San Fernando in Pampanga, Olongapo in Zambales, Lanang in Davao, General Santos in South Cotabato, and Consolacion in Cebu. These will bring the number of SM Supermalls in the Philippines to 46 by yearend for a total floor area of 5.7 million square meters. INQUIRER

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS:

No tags found for this post.
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.