Philippines' SM Prime plans to raise up to $673 mln in 5-10 yr loans

April 14, 2015 8:24 AM

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MANILA, April 14 (Reuters) - Property firm SM Prime Holdings Inc, owned by the Philippines' richest man Henry Sy, plans to raise up to 30 billion pesos ($673 million) in five- to 10-year loans to finance its 2016 capital spending, a senior company official said.

The company will likely raise about 20 billion to 30 billion pesos in the third quarter, Jeffrey Lim, SM Prime executive vice president, told reporters on the sidelines of the company's stockholders' meeting.

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