SM Prime Holdings Inc. (SMPH.PH) said Wednesday it raised PHP3.0 billion (US$ 68.03 million) by issuing fixed-rate notes.

Philippines’ largest mall operator in terms of sales said the notes have maturities of five, seven and ten years.

Proceeds from the issue will be used to fund capital expenditure, which the company earlier said was expected at PHP6.0 billion this year. 

‘The facility was oversubscribed with 16 primary institutional lenders subscribing to the issue,’ Jeffrey Lim, the company’s executive vice president, said.

First Metro Investment Corp. arranged the issue.