MALL OPERATOR SM Prime Holdings, Inc. has raised P5 billion from issuing fixed-rate corporate notes to fund part of its P21-billion capital spending this year, a disclosure to the Philippine Stock Exchange showed on Friday.

The corporate notes, with five-, seven-, and ten-year tenors, were handled by Australia and New Zealand Banking Group, Ltd., ING Bank N.V. and Yuchengco-led RCBC Capital Corp, SM Prime said.

This comes as the Sy-led firm has lined up more mall expansions here and abroad on top of the opening of new retail centers.

SM Prime hiked its nine-month net income last year by 14% to P6.41 billion from P5.62 billion in yearago figuress on the back of mall expansions and higher rental revenues.

Shares of SM Prime rose by 1.12% to P14.46 on Friday from P14.30 at its previous close. — FJGDLF