Security Bank offers peso bonds

SECURITY Bank is offering P5 billion worth of fixed rate bonds (bonds) and may upsize the transaction depending on demand.

The bonds will have a tenor of two years and will be marketed at a fixed rate of 3.125 percent per year. The public offer period will run from June 23, 2020 to July 15, 2020.

Minimum denominations have been set for P1,000,000 and increments of P100,000 thereafter. The bank will list the bonds on the Philippine Dealing and Exchange Corp. on July 24, 2020, to provide secondary market liquidity to investors who would like to trade the instruments.

The bonds will be issued out of the bank’s P100 billion peso bond and commercial paper program. (PR)