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(Reuters) - SM Investments Corp, one of the Philippines' biggest conglomerates, said on Wednesday it was seeking to raise up to 15 billion pesos ($355 million) via the sale of seven- and 10-year retail bonds next week to fund its real estate projects.

The $10-billion conglomerate owned by the country's richest man Henry Sy said in a statement it had set the interest rates at 6.0 percent per annum for the seven-year bonds and 6.9442 percent for the 10-year bonds.

It will initially offer peso-denominated bonds worth 10 billion pesos, with an option to issue an additional 5 billion pesos depending on demand.

The offer will run from June 27 until July 6. Issue date is July 16.

BDO Capital & Investment Corp and First Metro Investment Corp are joint issue managers and bookrunners and will act as lead underwriters together with BPI Capital Corp and China Banking Corp.

The firm owns stakes in property firm SM Development Corp , mall developer SM Prime Holdings Inc, and lenders Banco de Oro Unibank Inc and China Banking Corp.

SM rose 1.1 percent on Wednesday, in line with the market's 1.3 percent rise. The stock has gained about 20 percent this year.

In February, SM raised $250 million via convertible bonds due in 2017 to refinance existing debt and for general expenses.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.