SM Prime issues interest rates for retail bond offer

SM Prime Holdings Inc. (SM Prime) has set the interest rates for its peso-denominated Series M, 2.5-year retail bond at 2.4565 percent due in 2023, and Series N, 5-year retail bond at 3.8547 percent due in 2026.

 

SM Prime issued an aggregate principal amount of PHP5 billion of the Series M and N bonds, with oversubscription option of an additional PHP5 billion. 

 

“The proceeds of the retail bonds will allow SM Prime to continue its expansion plans in its core business, which will further drive the company’s growth,” SM Prime chief finance officer John Nai Peng Ong said in a statement Tuesday.

 

The retail bonds are offered by SM Prime to investors through underwriters from Jan. 25 to 29 following the receipt of the Permit to Sell from the Securities and Exchange Commission (SEC). 

 

The retail bonds are set to be issued on Feb. 5, 2021.

 

The proposed issuance is the second drawdown from SM Prime’s PHP100-billion debt securities program under shelf registration registered with the SEC in Markets and Securities Regulations Department (MSRD) Order No. 6, Series of 2020. 

 

Similar to its previous bond issues, the SM Prime Series M and N bonds have been rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings). A rating of PRS Aaa is the highest rating assigned by PhilRatings.This rating is given to long-term debt securities with the smallest degree of investment risk. This also indicates SM Prime’s strong capability to meet its financial commitment.

 

The SM Prime bonds’ joint issue managers are BDO Capital & Investment Corporation and China Bank Capital Corporation, which are also acting as joint lead underwriters together with BPI Capital, First Metro Investment Corporation, and SB Capital Investment Corporation.

https://www.pna.gov.ph/articles/1128555

Enchong’s ‘practical’ formula for success

 

Actor-swimmer Enchong Dee has always been enterprising.

When he was still training with the national swimming team, Enchong would sell instant noodle cups and canned meat products to his “unprepared” teammates.

“I would bring these items during competitions and offer them to those who didn’t have any baon. I didn’t mind earning only P10 from each item. I was still young then,” recalled Enchong. “It just goes to show that the self-discipline I gained from training and my passion for business went hand in hand.”

Enchong took up a course in development studies at De LaSalle University. “The theories I learned in class were backed up by practical uses. My parents helped me understand how it works,” he pointed out. “That’s why when I joined show biz (at age 19) it was already clear to me that whatever I would be earning from acting, I would use to put up businesses.”

Slingshot to 13 years later, Enchong, now 32, is already a restaurateur (with 18 branches of Peri-Peri Charcoal Chicken and Sauce Bar nationwide) and a real-estate developer.

“You have to have a clear vision of what you want to achieve. That way, all your actions will be directed toward achieving that goal,” Enchong advised. “It’s better to always have a backup plan. Always have a Plan B, or even up to Plan Z. Add to that hard work and determination, and you will surely succeed.”

Enchong said his young colleagues in the biz would often seek his advice on how to put up a business.

“My first question for them would always be, ‘What are you passionate about? What’s that special something that, even though you lack sleep and feel tired, would still push you to get out of bed at 7 in the morning?’” Enchong said. “Jameson (Blake, fellow ABS-CBN contract artist) said, ‘I like computers!’ I then told him to start a computer-related business.”

However, Enchong said starting a business requires focus. “You also have to do research on what you’ll be getting into. You can’t be complacent. After all, you will be spending your hard-earned money on it,” he explained. “Even though I am simply ‘a silent partner’ in several businesses, I would still study that particular industry. I’d ask questions on how I could be of help to my partners. That’s another thing: Your role in the company has to be clear to you. You have to do your part, too.”

https://entertainment.inquirer.net/402431/enchongs-practical-formula-for-success