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MANILA, Philippines – Property giant SM Prime Holdings Inc. has postponed its planned bond offering worth up to P18 billion, citing prevailing market conditions.
In a disclosure on Wednesday, the Sy family-led firm said it deferred the fourth tranche of its fixed-rate bond program, which consists of an initial offering of up to P12 billion and an oversubscription option of up to P6 billion.
READ: SM Prime seeks P18B via retail bond offer
The company did not specify when the offering would push through, saying only that the bond sale would be deferred until further notice.
