Security Bank Corp. said it has upped its bond sale to P20 billion from the original P5 billion due to strong market interest.
The five-year bonds carry a coupon of 6.05 percent.
“This is the largest issue size of the bank to date. Due to strong demand for the bonds, the bank exercised its oversubscription option and accepted offers above its minimum P5 billion issue size. The bank also ended its bond offer period early as volume significantly exceeded target,” Security Bank told regulators.
The bonds is now listed at the Philippine Dealing & Exchange Corp.
Security Bank offered the bonds to diversify its funding sources and support its lending activities.
“We’re humbled by the overwhelming response to our bond offering, which reflects the strong trust and confidence of our investors in Security Bank and our BetterBanking promise. We’re grateful for their support and will strive to keep delivering value to our clients and stakeholders,” said Arnold Bengco, Security Bank financial markets segment head.
Security Bank tapped Philippine Commercial Capital Inc. as sole bookrunner, joined by SB Capital Investment Corp. as joint lead arrangers and selling agents.
