Security Bank’s (PSE: SECB) offering of fixed rate bonds (Bonds) which started on June 23, 2020 has been met with strong demand from investors.
The 2-year Bonds carry a fixed rate of 3.125% per annum. Minimum denominations have been set for PHP1,000,000 and increments of PHP100,000 thereafter.
“We appreciate the overwhelming support that our investors and clients have been giving our bond offer. In view of the strong demand we have received so far, we are shortening the offer period to end on July 03, 2020, from the initial target end of offer period of July 15, 2020,” said SECB EVP and Treasurer Raul Martin Pedro.
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.
