SM Prime Postpones ₱18 Billion Bond Offer Decision

SM Prime Holdings defers fourth tranche of its bond program due to “current market conditions.”

SM Prime Holdings, the SM group’s parent company, is temporarily hitting pause on an ₱18-billion bond offer amid volatile economic conditions.

The Sy-led group disclosed to the Philippine Stock Exchange on June 3 that it was deferring the fourth tranche of its ongoing fixed-rate bonds program.

The bond offer was to consist of a principal of ₱12 billion and an oversubscription option of up to ₱6 billion. The program is split into the 5.75-year Series AE bonds, due to mature in 2032, and the 10-year Series AF bonds due in 2036.

The company said it was postponing the bond offer due to “current market conditions.” It previously announced the offer on April 30 as part of its ₱100-billion fixed-rate bond program approved by the Securities and Exchange Commission in 2024.