MANILA, Philippines — SM Prime Holdings, Inc. (SM Prime) has successfully completed a P5.0-billion fixed rate notes issue to help finance its P21-billion capital expenditures for 2012 in the Philippines and China.

In a disclosure to the Philippine Stock Exchange, the firm said the Joint Issue Managers and Bookrunners for the deal were Australia and New Zealand Banking Group Limited, ING Bank N.V., Manila Branch, and RCBC Capital Corporation.

The issuance was for five-year, seven-year, and ten-year notes, which will be used for general corporate requirements.

SM Prime executive vice president Jeffrey Lim said the balance of the capex will be funded internally although SM Prime may decide to increase borrowings depending on its needs and if there are opportunities.

SM Prime currently has 41 SM Supermalls strategically located nationwide with a total gross floor area (GFA) of 5.0 million square meters (sqm).

In 2012, SM Prime is set to open new malls in five different locations namely, San Fernando in Pampanga, Olongapoin Zambales, Lanang in Davao, General Santos in South Cotabato, and Consolacion in Cebu.

These will bring the number of SM Supermalls in the Philippines to 46 by end-2012. Total GFA will increase to 5.7 million sqm by end-2012.

SM Prime also continues to expand in China where it plans to open one mall this year. Lim said they now have three properties for mall development in its landbank and are also negotiating for another property in Xin Xiang which is about 5 hectares.

“We continue with our strategy towards looking at properties at tier 2 and even tier 3 cities for mall development,” Lim said.