Manila, Jan. 26 -- SM Prime Holdings Inc. (SM Prime) has set the interest rates for its peso-denominated Series M, 2.5-year retail bond at 2.4565 percent due in 2023, and Series N, 5-year retail bond at 3.8547 percent due in 2026.
SM Prime issued an aggregate principal amount of PHP5 billion of the Series M and N bonds, with oversubscription option of an additional PHP5 billion.
"The proceeds of the retail bonds will allow SM Prime to continue its expansion plans in its core business, which will further drive the company's growth," SM Prime chief finance officer John Nai Peng Ong said in a statement Tuesday.
The retail bonds are offered by SM Prime to investors through underwriters from Jan. 25 to 29 following the receipt of the Permit t...