SM Prime defers P18 billion bond sale
MANILA, Philippines — The Sy family’s SM Prime Holdings Inc. has deferred plans to raise as much as P18 billion through a bond offering due to current market conditions.
In a stock exchange filing, SM Prime said the planned bond sale is being postponed until further notice.
“The company will provide the exchange with updates on any future plans relating to the bond offer in accordance with applicable disclosure requirements,” it said.
SM Prime’s proposed bond offering has a principal amount of up to P12 billion, with an oversubscription option of up to P6 billion, consisting of 5.75-year Series AE bonds due in 2032 and 10-year Series AF bonds due in 2036.
The proposed bond issuance, which was assigned a rating of PRS Aaa by the Philippine Rating Services Corp., represents the fourth tranche of the company’s shelf-registration debt securities program of up to P100 billion.
Earlier, SM Prime announced it is allocating around P100 billion in capital expenditures to fund the group’s continued expansion in 2026.
However, the ongoing Middle East crisis prompted SM Prime to look at a more measured growth in 2026, as well as potentially cutting down its capital spending for the year.
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