SM PRIME Holdings Inc., the country’s t largest shopping mall operator and developer, has successfully raised P5 billion worth of notes to finance capital expenditures this year.

SM Prime vice president for finance Pepee Reyes said the company completed the notes offering Thursday.

SM chief finance officer Jeffrey Lim last month said the company would borrow up to P5 billion in debt to partially finance P21 billion in capital expenditure for 2012.

The company tapped lNG, ANZ and Rizal Commercial Banking Corp. to handle the bond offering. Lim said the P5-billion issue would have a maturity of between five and 10 years.

SM Prime plans to be aggressive in 2012, with mall expansions in the Philippines and China.

The mall operator will open three shopping complexes in the country-General Santos City, Lanaang in Davao City and Consolacion in Cebu City.

The company is acquiring another five-hectare property in Xinxiang City located in the northern Henan province of China, which will be developed into a shopping mall over the next two years.