MANILA, Philippines — SM Prime Holdings Inc., the integrated property developer of the Sy family, targets to raise another P25 billion from a planned bond offering to fund its upcoming investments and refinance debt. SM Prime is looking to issue P20-billion worth of bonds, with an oversubscription option of up to P5 billion. Proceeds of the issuance will be used for the company's debt refinancing and capital expenditures. The proposed issue represents the second tranche of the company's shelf registration debt securities program of up to P100 billion. The company raised P25 billion from the first tranche through an oversubscribed bond offering in June. Philippine Rating Services Corp. (PhilRatings) has assigned an issue credit rating of PRS Aaa to the planned bond issue.