Security Bank Corp., one of the country’s largest universal banks, launched on Monday the offer period for its fixed-rate peso bonds with a minimum issue size of P3 billion.
The bonds, with an oversubscription option, will have a tenor of 1.5 years and will be marketed at a fixed-rate of 5.3 percent per annum. The public offer period will run from Oct. 17 to Oct. 28, 2022.
Minimum denominations were set for P1 million and increments of P100,000 thereafter.
“Proceeds will be used to support the bank’s lending activities and expand its funding base,” the bank said in a disclosure to the stock exchange.
Security Bank will list the bonds on the Philippine Dealing and Exchange Corp. on Nov. 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.
Security Bank mandated Philippine Commercial Capital Inc. as the sole bookrunner and PCCI and SB Capital Investment Corp. as joint lead arrangers and selling agents. Julito G. Rada