SM to issue Convertible Bonds

(02 February 2012. Pasay City, Philippines) SM Investments Corporation (SM) announced today that its Board of Directors approved the issuance of five-year convertible bonds with a base size of USD250.0 million. SM has appointed Citigroup Global Markets Limited and J.P. Morgan Securities Ltd. as joint lead managers for the offering. The proceeds of the bonds will be used to refinance some of the company’s maturing obligations and for other general corporate purposes. 

The Board of Directors also authorized the management to negotiate and finalize the terms and conditions, including pricing and any increase in issuance amount, and execute any and all documents necessary, to implement the convertible bond issue. 

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For further information, please contact: 

Ms. Corazon P. Guidote 
Vice President for Investor Relations
SM Investments Corporation
Tel. No. 857-0117

Date: Thursday, February 2, 2012