Written by Madelaine Miraflor
SM Investments Corp. (SMIC) will list
on July 16 its retail bonds amounting to P25 billion at the Philippine Dealing
and Exchange Corporation (PDEX), to let bondholders to freely trade their bonds
through accredited brokers between the listing date and the maturity of the
bonds.
In a disclosure to Philippine Stock
Exchange (PSE), SMIC said that, “specifically, the bonds to be listed are the
P10-billion worth of Fixed-Rate Series A Bonds due 2014 and Series B Bonds due
2016, plus the recently issued P15-billion worth of Fixed-Rate Series C Bonds
due 2019 and Series D Bonds due 2022.”
“We are glad to have a venue by which
we can provide increased flexibility to our bondholders, while also giving
greater access to retail investors of SM Bonds. I would also like to take this
opportunity to thank all those who supported our recent bond offer,” SM
Executive Vice President and Chief Financial Officer Jose Sio said.
According to SMIC, the proceeds of the
bond issue will be used to finance the medium-term projects of SM in the hotel
and commercial properties business.
“SM is also continuing its expansion
of the malls in provincial areas and in China under its mall subsidiary SM
Prime Holdings Inc., while the residential business will be launching four to
five new projects each year under its residential arm SM Development Corp,”
said SM in a statement.
Recently, SMIC subscribed to its
shares in Banco De Oro’s landmark rights offer worth $1billion to further
enhance the bank’s core capital and prepare for larger infrastructure funding.
SMIC, one of the largest holding firms
in the country, is engaged in diversified businesses through its subsidiaries,
SM Prime Holdings Inc., the shopping mall developer.
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