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.
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