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Byline: Franz Jonathan G. de la Fuente
SM PRIME Holdings, Inc., the mall operating arm of the SM Group, has moved to secure a P5-billion loan to fund part of its P21-billion capital expenditure (capex) for next year, a ranking official said on Wednesday.
In a chance interview, Jeffrey C. Lim, SM Prime executive vice- president, told reporters that the mandate to initially raise P5 billion has already been given.
"The amount is actually already committed, but we will draw on the loan early part of next year," he said. "We have not actually signed the formal documents, but that is the plan."
The Sy-led mall developer will be tapping international …