
Sy-led SM Prime Holdings, Inc. (SM Prime) has officially listed its P25-billion fixed rate retail bonds on the Philippine Dealing & Exchange Corp. (PDEx), making them available for market trading.
In a stock exchange report on Wednesday, the company said the bonds, issued in Series Y, Z, and AA due in 2028, 2031, and 2035, respectively, are part of its P100-billion Shelf Registration of Fixed Rate Bonds approved by the Securities and Exchange Commission.
Rated PRS Aaa by Philippine Rating Services Corp. (PhilRatings), the bonds reflect "minimal credit risk" and an "extremely strong" capacity to meet financial commitments. Proceeds will support SM Prime’s expansion and strengthen its financial position.
This year, the company has earmarked up to P100 billion for expansion, with P67 billion allocated for SM Residences and integrated property developments across Luzon and Visayas.
The investment covers regional, premium, and leisure residential projects, as well as large-scale mixed-use urban centers.
SM Prime is also investing P21 billion in malls, targeting an additional 205,400 square meters of gross floor area (GFA) and redeveloping 124,488 square meters of existing space. The company expects its total mall GFA to exceed 8 million square meters by year-end.
Another P12 billion will go toward offices, hospitality, and MICE (meetings, incentives, conferences, and exhibitions) operations. The funds will support two new convention facilities, hotel renovations, and expanded food and beverage offerings.
The company is also developing new office towers and workspaces, including Six E-Com Center, a Grade A office building in the Mall of Asia Complex catering to technology-driven industries and BPO firms.