August 15, 2014, 8:12 pm — SM Prime Holdings, Inc. (SMPH) has set interest rates for multibillion bonds to be offered to investors through underwriters this August.

In a statement released on Monday, SMPH revealed that rates for its peso-denominated Series A 5.5-year retail bonds will be at 5.1000 percent p.a.

Series B, featuring 7-year retail bonds, were set at 5.2006 percent p.a., while 10-year retail bonds of Series by number at 5.7417 percent p.a.

All series will be issued an aggregate principal amount of P15.0 billion. Investors will receive an option to issue an additional amount of P10 billion to this amount.

Offers of sales will be issued from Aug. 13 to 22, and will be issued on Sept. 1.

This series of bonds, due 2020, 2021, and 2024 is SMPH’s first offering of peso-denominated retail bonds on the public market, and part of the company’s aggressive five-year expansion plan.

First disclosed to the public in April, the plan will see P400 billion in capital expenditures for 85 malls, 41 residential projects, seven office buildings, 10 hotels, and eight leisure developments by end-2018.

Over P70 billion will be spent this year as part of the plan. — Rie Takumi/JDS, GMA News