SM Prime Holdings, Inc.’s Fixed Rate Bonds Due 2025, 2027 and 2029

SM Prime Holdings, Inc. (“SMPH”) was incorporated in the Philippines and registered with the SEC on 6 January 1994. It is one of the largest integrated property developers in Southeast Asia that offers innovative and sustainable lifestyle cities with the development of malls, residences, offices, hotels and convention centers. It is also the largest, in terms of assets, in the Philippines. It is also the largest, in terms of assets, in the Philippines.

SM Prime possesses end-to-end capabilities across the integrated real estate value chain, encompassing land banking, master planning, construction, retailing and operations. SM Prime is able to leverage on the diverse skill sets of each of its business units while optimizing value through more efficient planning and control over its developments.

For more information on SMPH, visit

Terms of the Offer

Issuer SM Prime Holdings, Inc. (“SM Prime”)
Issue Fixed Rate Bonds (the “Bonds”) constituting the direct, unconditional and unsubordinated obligations of SM Prime Holdings, Inc.
Issue Amount Twenty Five Billion Pesos (P25,000,000,000), with an option to increase the issue size by up to Ten Billion Pesos (P10,000,000,000) in the event of oversubscription
Maturity Date Series S Bonds: 2.5 years from the Issue Date

Series T Bonds: 4 years from the Issue Date

Series U Bonds: 6 years from the Issue Date

Final Interest Rate 2.5 years: 6.2069%

4 years: 6.2151%

6 years: 6.3275%

Interest Interest on the Bonds shall be calculated on a 30/360-day count basis and shall be paid quarterly in arrears.
Form and Denomination Issued in scripless form in minimum denominations of P20,000.00 each, and in multiples of P10,000.00 thereafter, and traded in denominations of P10,000.00 in the secondary market.
Call Option In whole and not in part based on the schedule below:

Series T Bonds:
Call Option Dates Call Option Price
Fifth (5th) and sixth (6th) payment dates 101.00%
Seventh (7th) interest payment date 100.50%
Series U Bonds:
Call Option Dates Call Option Price
Eighth (8th) and ninth (9th) interest payment dates 101.00%
Tenth (10th) and eleventh (11th)interest payment dates 100.50%
Offer Period May 8 – 12, 2023
Issue Date May 23, 2023
Rating PRS Aaa with a Stable Outlook by PhilRatings
Listing Philippine Dealing and Exchange Corporation (“PDEx”)
First Metro’s Role Joint Lead Underwriter and Joint Bookrunner

Final Prospectus

Investors are strongly advised to carefully read the contents of the Final Prospectus, together with the financial statements attached thereto.

Download a copy of the Final Prospectus.

Contact Details

Any questions related to the Bond Offering may be directed to the following representatives.

Ina Pacheco


Vicky Ang-Mariano