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Monday, June 23, 2014

SMPH: Draws portions of debt facility for China expansion

SMPH has already drawn portions between US$50Mil to US$100Mil from its US$300Mil syndicated loan for its shopping mall expansion in mainland China. The company is spending for the construction of SM Tianjin, which will be its largest shopping center when it opens in 2015 with a total gross floor area of 540,000 sqm. The loan will also fund the development of a new mall in the city of Yangzhou located in Jiangsu province, which will be constructed next year and completed in 2016.

- Col Financial

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