SM Prime Holdings, Inc. (SM Prime) has set the interest rates for its Peso-denominated Fixed Rate Bonds Series Y at 6.0282 percent due on 2028; Series Z at 6.2113 percent due on 2031; and Series AA at 6.4784 percent due on 2035. The Company will issue an aggregate principal amount of PHP20 billion, with oversubscription option of up to PHP5 billion. The offer period of the Bonds will take place from February 12-18, 2025.
Similar to its previous bond issues, the Series Y, Z and AA have been rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings). PRS Aaa rating is the highest rating assigned by PhilRatings, denoting that such obligations are of the highest quality with minimal credit risk and the issuing company ‘s capacity to meet its financial commitment on the obligations is extremely strong.
The proposed issuance is under the Company’s PHP100 billion Shelf Registration of Fixed Rates Bonds approved by SEC on 06 June 2024 under the Securities and Exchange Commission (the “SEC”) (the “Debt Securities Program”) under SEC MSRD Order No. 46, Series of 2024.
