Security Bank (PSE: SECB) is offering PHP5bn worth of fixed rate bonds (Bonds) and may upsize the transaction depending on demand.
The Bonds will have a tenor of 2 years and will be marketed at a fixed rate of 3.125% per annum. The public offer period will run from June 23, 2020 to July 15, 2020*. Minimum denominations have been set for PHP1,000,000 and increments of PHP100,000 thereafter.
SECB 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 PHP100bn Peso Bond and Commercial Paper Program (Program). The Program was initially established in December 2018 with an aggregate amount totaling PHP50bn and had been subsequently increased to PHP100bn as approved by the Bank’s Board of Directors.
SECB has mandated Philippine Commercial Capital, Inc. (PCCI) as Sole Bookrunner, and PCCI and SB Capital Investment Corporation as Joint Lead Arrangers and Selling Agents for this issuance.
About Security Bank
Security Bank is among the six largest private domestic universal banks in the Philippines by total assets (at Php 784.4 billion) as of March 31, 2020. The Bank has been operating for 69 years since it was established in 1951. Security Bank has a total of 309 branches and 839 ATMs as of March 31, 2020.
Security Bank’s major awards received in 2019 are: The Best Retail Bank in the Philippines for 2019 by The Asian Banker and Deposit Product of the Year – “All Access Account” by The Asian Banker; Automobile Lending Product of the Year by The Asian Banker (Philippines Awards 2019) and Deposit Product of the Year by The Asian Banker (Philippine Awards 2019); Best Bank in the Philippines in 2019 by Alpha Southeast Asia and Best SME Bank in the Philippines in 2019 by Alpha Southeast Asia; and Best Bank for SMEs in the Philippines in 2019 by Asiamoney.
Major awards received in 2018 were: Bank of the Year – Philippines 2018 by The Banker; Best Bank in the Philippines 2018 by Global Finance; The Best Retail Bank in the Philippines for 2018 by The Asian Banker; Best Retail Bank in the Philippines 2018 by Alpha Southeast Asia; and People Program of the Year Award for Security Bank’s Total Wellness Program by People Management Association of the Philippines (PMAP).
Among Security Bank’s major awards in 2017 were: Best Bank in the Philippines by Alpha Southeast Asia; Best Bank for SMEs–Philippines by Asiamoney; Best Digital Bank–Philippines by Capital Finance International; Deposit Product of the Year (All Access Account) by The Asian Banker (Future of Finance in Philippines Awards); Top Bank for Government Bonds, Top Bank for Corporate Bonds, and Top Investment House by The Asset Benchmark Research Awards; Best Regional Specialist (Public Sector), Philippines, and Best in Treasury and Working Capital (Public Sector), Philippines by The Asset Triple A Awards 2017; and Special Citation on Industrial Peace and Harmony from KAPATID 2017 Awards of the Employers Confederation of the Philippines.
More information is available on our website: www.securitybank.com.