Security Bank floats P3-B fixed-rate bonds
The bonds will be listed in the Philippine Dealing and Exchange Corp. to provide secondary market liquidity to investors who would like to trade the instruments
Daily TribuneThe bonds will be listed in the Philippine Dealing and Exchange Corp. to provide secondary market liquidity to investors who would like to trade the instruments
Security Bank Corp. said Monday it will offer a fixed-rate peso bond with a minimum offer of P3 billion to support its lending activities and expand its funding base.
In a bourse report, the bank said the bonds will have a tenor of 1.5 years and will be marketed at a fixed rate of 5.3 percent annually.
Security Bank will list the Bonds on the Philippine Dealing and Exchange Corp. on November 10, 2022, 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 Papers Program.
Public offer
The public offer period started on Monday, 17 October, and will end on 28 October. Minimum denominations have been set for P1 million and increments of P100,000, thereafter.
Security Bank has mandated Philippine Commercial Capital Inc. as Sole Bookrunner, and PCCI and SB Capital Investment Corporation as Joint Lead Arrangers and Selling Agents for this issuance.
As of the end of the first half, Security Bank's total assets stood at P766 billion.
Its net income from January to June went up by 100 percent to P6.2 billion from P3.1 billion a year ago as a result of growth in its investment and lending businesses.
