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Manila Bulletin devider Business devider Security Bank increases bond issuance to P16 B

Security Bank increases bond issuance to P16 B

Published Jul 20, 2022 03:09 pm

Security Banking Corporation (Security Bank) has successfully raised P16 billion from the issuance of Fixed Rate Peso Corporate Bonds due 2024, 16 times the planned P1 billion float.

In a disclosure to the Philippine Stock Exchange, Security Bank said the bonds have a yield of 3.7407 percent per annum, with a tenor of 1.5 years.

Security Bank

Due to strong demand for the bonds, the Bank exercised its oversubscription option and accepted offers above the initially announced P1 billion issue size. Minimum denominations were set for P1 million and increments of P100,000 thereafter.

The bonds were listed at the Philippine Dealing & Exchange Corporation (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.

In his message during the listing, 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.

Security Bank had 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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