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SM Prime to raise up to P10 billion from bond offer

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/11/10/artist-rendition-sm-city-butuan.jpg"/><figcaption>Artist rendition of SM City Butuan. SM City Butuan is one of the two malls opened by SM Prime in 2020. <em>Handout.</em></figcaption></figure></div><p>MANILA - SM Prime is set to raise up to P10 billion from the second tranche of its P100 billion bond program, the company said on Monday.</p><p>SM Prime said the bonds will have a maturity period of up to two and a half years and 5 years and will be listed at the Philippine Dealing and Exchange Corp.</p><p>Last March, the mall developer announced a P100-billion shelf bond registration and raised P15 billion initially from its first tranche.</p><p>The proceeds will go to expansion projects such as the building of new malls and a reclamation project in Pasay, SM Prime said.</p><p>“SM Prime is set to establish further integrated property developments in various developing provincial cities in the Philippines,” SM Prime President Jeffrey C. Lim earlier said.</p><p>For this year, SM Prime&#x27;s expansion was delayed due to the COVID-19 pandemic, but managed to open regional malls at the end of the year such as SM Mindpro in Zamboanga and SM City Butuan.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/25/20/sm-to-open-first-mall-in-zamboanga-city-with-sm-city-mindpro">SM to open first mall in Zamboanga City with &#x27;SM City Mindpro&#x27;</a></li>	<li><a href="https://news.abs-cbn.com/business/11/11/20/sm-to-open-first-mall-in-caraga-region-with-sm-city-butuan">SM to open first mall in CARAGA region with SM City Butuan</a></li>	<li><a href="https://news.abs-cbn.com/business/10/26/20/sm-prime-9-month-income-down-48-pct-core-business-sees-slight-recovery-as-restrictions-ease">SM Prime 9-month income down 48 pct, core business sees &#x27;slight recovery&#x27; as restrictions ease</a></li></ul><figure class="op-interactive"><iframe src="https://www.youtube.com/embed/JAoZxGIe4lE?enablejsapi=1"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>SM Prime is set to raise up to P10 billion funds from the second tranche of its P100 billion bond program, it said on Monday.</p>

SM Prime is set to raise up to P10 billion funds from the second tranche of its P100 billion bond program, it said on Monday.