SM INVESTMENTS Corp. (SMIC) said it received recognition at The Asset Triple A Sustainable Finance Awards 2025 for its $500-million bond offering in 2024, which was named the Best Bond for Corporate in the Philippines under the Best Significant Deal category.

“As we continue to diversify and expand across various sectors, this achievement further strengthens our strategy to drive long-term, sustainable growth for the company and its stakeholders,” SMIC Executive Vice-President for Treasury, Finance, and Planning Erwin G. Pato said in an e-mail statement on Thursday.

“This recognition affirms the strength of our financial position and our unwavering commitment to growth. The successful execution of this landmark bond offering and the positive reception from investors reflect SMIC’s resilience and leadership in the market,” he added.

The company’s $500-million bond offering was the largest-ever five-year issuance by a Philippine corporation and achieved the tightest-ever five-year issue spread by an unrated corporation in Southeast Asia. It also generated strong investor demand, with a final order book exceeding $1.6 billion from 103 accounts.

SMIC said it aims to continue strengthening its market leadership in key sectors, including retail, banking, and integrated property development.

The conglomerate posted a 7% increase in net income for 2024, reaching P82.6 billion from P77 billion in 2023.

Of the total net income, banking contributed the largest share at 49%, followed by property at 26%, retail at 18%, and portfolio investments at 7%.

Consolidated revenue grew by 6% to P654.8 billion in 2024 from P616.3 billion the previous year.

Last year, SM expanded its footprint with 619 additional retail stores, two new malls, and 73 new bank branches, with over 85% of its network located in the provinces.

“We ended 2024 with a strong performance, despite the high base of 2023 and inflationary headwinds during the year. Our core businesses all grew, supported by positive macroeconomic fundamentals and healthy consumer sentiment. The fourth quarter registered the highest revenue growth rate of 9.4%, giving us solid momentum into 2025,” SMIC President and Chief Executive Officer Frederic C. DyBuncio said.

On Thursday, SMIC shares rose by 1.99%, or P16, to close at P821 apiece. — Revin Mikhael D. Ochave