SECURITY Bank has issued fixed rate bonds amounting to P13.5 billion. This final issue size represents a significant upsize from the initial issue size of P5 billion given strong investor demand, which prompted the bank to close the offer period for the bonds early.
The two-year bonds carry a fixed interest rate of 3.125 percent per annum. Minimum denominations have been set for P1,000,000 and increments of P100,000 thereafter.
“We want to thank our investors and clients for the unwavering trust and support despite volatile times. Our bonds were met with strong demand and we had to increase our original issue size by 2.7x to accommodate the orders,” said Security Bank executive vice president and treasurer Raul Martin Pedro.
The bonds will be issued out of the bank’s P100 billion Peso Bond and Commercial Paper Program. The program was initially established in December 2018 with an aggregate amount totaling P50 billion and had been subsequently increased to P100 billion as approved by the bank’s board of directors.
Security Bank has mandated Philippine Commercial Capital Inc. as sole bookrunner and Philippine Commercial Capital Inc. and SB Capital Investment Corp. as joint lead arrangers and selling agents for this issuance. (PR)