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Apr 14, 2016 @ 8:22

SM Prime set to raise P70b from bond sale

 

SM Prime Holdings Inc., the country’s largest integrated property developer, plans to raise up to P70 billion in fresh capital over the next three years from the issuance of retail bonds.

SM Prime executive vice president Jeffrey Lim said in an interview at the sidelines of the annual stockholders’ meeting Tuesday the company was finalizing plans to file a shelf registration with the Securities and Exchange Commission for the issuance of between P50 billion and P70 billion worth of retail bonds over three years.

Several companies that earlier availed of the shelf registration program of the SEC were Ayala Land Inc., DMCI Homes and San Miguel Corp.

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