SM Investments feted for $500 million bond issuance

February 7, 2025 | 12:00am

MANILA, Philippines —  SM Investments Corp. has been recognized by the International Financing Review Asia (IFR Asia) for its successful capital market deal last year.

The parent company of the SM Group has been awarded the “Philippine Capital Market Deal of the Year” for its issuance of a $500-million five-year bond in 2024.

SM Investment’s return to the dollar bond market after a decade-long absence has been cited by IFR Asia as a significant development for the Philippine corporate sector.

According to SM Investments, IFR Asia is a respected source of news and analysis on capital markets and investment banking, reinforcing the credibility of the recognition.

The company said that the recognition underscores its leadership in the capital markets and the strong confidence of global investors in its financial strength.

“This landmark transaction represents a major milestone for both SM Investments and the Philippine capital markets. The strong demand from investors reflects confidence in Philippine corporate issuers and underscores SM’s reputation as a stable and well-managed investment option,” SM Investments executive vice president for treasury, finance and planning  Erwin Pato said.

IFR Asia said that SM Investments’ bond issuance attracted significant investor interest, given the relative scarcity of corporate issuances from the Philippines in recent years.

The transaction, which was the largest five-year deal by a Philippine corporate in 2024, reopened the market amid volatile conditions and achieved competitive pricing at 35 basis points.

It also marked SM Investments’ first bond issuance since its $350 million 10-year note in June 2014.

“SM Investments’ achievement highlights its commitment to financial excellence and its role in strengthening investor confidence in the Philippine market,” the company said.