SMIC Prices US$500M 7-Year Bond Issue

(10 October 2012. Pasay City, Philippines) SM Investments Corporation (“SMIC”) announced today that it has priced a US$500 million 7-year bond issue at a fixed rate of 4.25% per annum.

The issue was substantially oversubscribed, attracting subscriptions totaling US$3.1 billion from institutional and private banking investors within the Philippines and across Asia and Europe, allowing SMIC to upsize the initial indicative size of the issue to US$500 million. The landmark bond issue was priced with one of the lowest-ever coupons for a seven-year fixed rate bond issued by a Philippine corporate. The bond issue is a debt management exercise that will further lengthen SMIC’s debt profile and take advantage of the much-improved interest rate environment.

SMIC Executive Vice President and CFO Mr. Jose T. Sio said, “We would like to thank the investors for giving us their continued support. This exercise is also our way of maintaining our presence in the bond market and fostering a sustainable relationship with the international investment community.”

SMIC appointed Citi, Deutsche Bank, and J.P. Morgan as joint lead managers and joint book runners for the transaction.

NOT FOR DISTRIBUTION OUTSIDE THE PHILIPPINES. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States or other jurisdiction. The securities are being offered and sold outside the United States in reliance on Regulation S under the Securities Act and may not be offered or sold within the United States absent registration or an exemption from registration under the Securities Act. SMIC does not intend to register any part of the offering in the United States. No public offering of the securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

– End –

For further information, please contact:

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

Date: Thursday, October 11, 2012