Pasay City, Philippines, 2016-Sep-28 — /EPR Retail News/ — SM Investments Corporation announced that the Philippine Rating Services Corporation (PhilRatings) assigned a rating of PRS Aaa to SMIC’s proposed bond issue of P15.0 Billion, with an over subscription option of P5.0 Billion, for a maximum aggregate amount of P20.0 Billion. The bonds are part of the shelf offering of up to P50.0 Billion in bonds that SMIC plans to undertake in the next three years.
The rating for SMIC’s outstanding bonds amounting to P27.3 Billion was likewise maintained at PRS Aaa.
PhilRatings assigned a Stable outlook for the ratings for the proposed and outstanding bonds.
PRS Aaa is the highest rating assigned by PhilRatings, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.
About SM Investments Corporation
SM Investments Corporation, founded by entrepreneur Henry Sy, Sr., is one of the country’s largest publicly listed companies with a sustainable group of businesses that thrives on synergies of its banking, property and retail operations. SM has grown into one of the most highly respected companies in the country owing to its progressive approach in business and its comprehensive sustainability programs for its host communities through SM Foundation and SM Cares.
SM’s retail operations enjoy a strong brand franchise consisting of non-food under THE SM STORE and food under SM Markets comprising of SM Supermarket, SM Hypermarket, and Savemore and other food retail stores under Waltermart and Alfamart. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s largest bank and China Banking Corporation (China Bank), the seventh largest bank.
For more about SM, visit: www.sminvestments.com
For further information, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
Tel. No. (632) 857-0117
Source: SM Investments Corporation