SM Prime to issue up to P100 billion bonds !-- -- Iris Gonzales (The Philippine Star) - January 15, 2020 - 12:00am MANILA, Philippines SM Prime Holdings Inc. (SMPH) plans to issue up to P100 billion in fixed-rate bonds in the next three years.

The property giant has filed with the Securities and Exchange Commission (SEC) a shelf registration covering P100 billion worth of bond. Of the total, SMPH is eyeing to issue an initial amount of P15 billion with an over subscription option of up to P5 billion worth bonds with maturity of five to seven years.

The SEC's shelf registration facility is an option for issuers to register and sell under the same regulatory documents securities, which they do not intend to sell right away. The SEC allows for a three-year window.

The company is raising funds for its pipeline of projects and other general funding needs. Last December, it officially received from the City of Pasay the notice to proceed (NTP) for its 360-hectare reclamation project within the city's waters.

Under the plan, the new reclamation project in Pasay City will be connected to the Mall of Asia (MOA) complex, which is also a reclaimed-land project of both parties that was turned into a vibrant business district featuring world-class mall, offices, residences, entertainment arena, five-star hotel, and convention center.

© Pakistan Press International, source Asianet-Pakistan