Corporate regulator OKs SM Prime bond program

The en banc was said to have "considered favorably" SM Prime's planned offering of peso-denominated bonds in one or more tranches, subject to compliance with certain remaining requirements.

For the first tranche, the property giant wants to offer up to P25 billion — inclusive of oversubscription — worth of three-year Series V bonds, five-year Series W bonds and seven-year X bonds.