SM Prime Holdings, Inc., the country’e leading shopping mall operator and devloper, yesterday said it successfully completed the isssuance of P5 B worth of Floating and Fixed Rate Notes.

SM Prime said in a disclosure to the Stock Exchange that BDO Capital & Investment Corporation arranged the deal, with PNB Capital & Investment Corporation acting as co-lead arranger.

‘The proceeds will be used to fund ongoing capital expenditures and for general corporate requirements,’ SM Prime said

It said the facility was over-subscribed with eleven primary institutional lenders subscribing to the Issue.

‘The strong response by the market to this financing illustrates the high credit quality of SMPHI, as well as the local market’s confidence in the company,’ SM Prime said.

The company earlier said that it would spend P10 billion in capital expenditure this year, half of which would be used through borrowings.

SM Prime this year plans to open SM City Naga in Camarines Sur, SM City Rosario in Cavite, SM City Pamplona in Las Piñas, and the Sky Garden at SM City North Edsa.