By Richmond S. Mercurio (The
Philippine Star) | Updated November 20, 2014 - 12:00am
MANILA, Philippines - SM Prime
Holdings Inc. is looking to tap the debt market to finance its entry into OCLP
Holdings Inc., owners of strategic land bank areas in the Ortigas Business
District that include Greenhills Shopping Center.
In an interview, SM Prime chief
finance officer Jeffrey C. Lim said the company may resort to fundraising
activities to finance its acquisition of stakes in the Fernando Ortigas group
of OCLP.
“We can raise via debt, bonds,” Lim
said. “We’re evaluating the funding alternatives. We have 30 days so we’ll
see,” he added.
Lim, together with SM Investments
Corp. chief finance officer Jose T. Sio, have recently been appointed to
represent SM Group in the board of the Ortigas holding company.
Lim said the group is “still working
on the details” of how much stake it intends to purchase in the Fernando
Ortigas group in OCLP.
The company has earlier reported that
is looking at buying out the shares of Fernando group.
In a text message to The STAR, SM
Investments Corp. senior vice president and investor relations head Corazon
Guidote said details of the proposed buyout are “still being threshed out.”
“The important thing now is we have
the working and partnership agreement It’s a working relationship with the four
parties working for the interest of the company,” Lim added.
SM Prime and Ayala Land Inc. in early
November put an end to a two-year long rivalry over the Ortigas family’s
holding firm as the two property giants entered into a partnership with their
respective faction in the Ortigas clan.
For ALI’s part, chief finance officer
Jaime Ysmael and commercial business group head Jose Jalandoni will represent
the firm in the OCLP board.
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