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Manila Bulletin devider Business devider Security Bank raises P14.6 B from upsized bond

Security Bank raises P14.6 B from upsized bond

Published Nov 10, 2022 01:57 pm

Security Bank has successfully raised P14.6 billion with the issuance of its Fixed Rate Peso Corporate Bonds at 5.3 percent per annum, with a tenor of 1.5 years due 2024.

In a statement, Security Bank said that, due to strong demand for the bonds, it exercised the oversubscription option and accepted offers above its minimum P3 billion issue size.

Security Bank

Minimum denominations were set for P1 million and increments of P100,000 thereafter.

The bonds were listed today at the Philippine Dealing & Exchange Corp. (PDEx) to provide secondary market liquidity to investors who would like to trade the instruments.

Security Bank offered the bonds to support its lending activities and expand its funding base.

Security Bank Executive Vice President and Financial Markets Segment Head Raul Pedro said that the successful issuance and oversubscription is testament to investor confidence in the Bank and its commitment to provide BetterBanking service.

Security Bank has mandated Philippine Commercial Capital, Inc. (PCCI) as Sole Bookrunner; and PCCI and SB Capital Investment Corporation as Joint Lead Arrangers and Selling Agents for this issuance.

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