Philippines' SM Prime to offer PHP 25 billion bonds by month-end

By Marisa Wong

Madison, Wis., May 2 - SM Prime Holdings Inc. said it plans to issue PHP 25 billion of retail bonds.

The size of the planned offering was increased from PHP 20 billion. The additional amount covers the over-allotment portion of the fundraising, according to a 17-C filing with the Philippine Securities and Exchange Commission.

The bonds will have a maturity of seven to 10 years.

SM Prime expects to offer the bonds to the public by the end of May.

The company originally announced the offering in March.

SM Prime is a shopping mall and retail operator based in Pasay City, Philippines.

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