SM Prime Holdings Inc., the biggest property developer by assets, has pegged the interest rates for its retail bond issue worth up to P25 billion.

SM Prime said in a statement it fixed an interest rate of 5.1 percent for five-and-a-half-year bonds, 5.2006 percent for seven-year bonds and 5.7417 percent for 10-year bonds.

The company said it would issue P15 billion worth of retail bonds, with an option to sell an additional P10 billion.

SM Prime said it would offer the bonds to investors from Aug. 13 to 22, 2014 and issue them on Sept. 1. It tapped  BDO Capital & Investment Corp. and First Metro Investment Corp. as joint issue managers and joint bookrunners.