Security Bank offers 5-year, fixed-rate peso bonds

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Security Bank Corporation (“SECB”) announced its fixed-rate peso bond offering with a minimum issue size of P5 billion, with an oversubscription option.

The Bonds will have a tenor of 5 years and 1 month and will be marketed at a fixed rate of 5.7000 percent per annum. The public offer period will run from July 8 to August 13, 2024.

Minimum denominations have been set for P100,000 and increments of P10,000 thereafter.

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Security Bank will list the Bonds on the Philippine Dealing and Exchange Corp. on August 20, 2024, to provide secondary market liquidity to investors who would like to trade the instruments.

The Bonds will be issued out of the Bank’s P200 billion Peso Bond and Commercial Papers Program. Proceeds will be used to support the Bank’s lending activities and expand its funding base.

“We’re excited about this peso bond offering, which will support our strategic initiatives and diversify our funding sources. We’re confident this offering will deliver value to our clients looking to invest in a high-quality instrument with attractive returns,”said Arnold Bengco, Security Bank EVP and Financial Markets Segment Head.

Security Bank has mandated Philippine Commercial Capital, Inc. and SB Capital Investment Corporation as Joint Bookrunners, Joint Lead Arrangers, and Selling Agents for this issuance.

Security Bank is a private domestic universal bank in the Philippines with total assets of P887 billion as of March 31, 2024. The Bank has been operating for 73 years since it was established in 1951. Todate, Security Bank has a total of 327 branches and 660 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs).

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