Security Bank Corp. said Wednesday it issued its largest bond to date, a P21-billion fixed-rate peso corporate bond due 2030, after strong investor demand allowed it to significantly increase the offering.
The five-year tenor bonds carry an annual fixed interest rate of 6 percent, the bank said in a disclosure to the Philippine Stock Exchange.
The final amount of P21 billion went well above the initial target of P5 billion, after the bank exercised its oversubscription option.
The proceeds from the bond issuance will be used to diversify the bank’s funding sources and support its lending activities, according to the disclosure.
“We’re grateful for the market’s confidence,” said Security Bank executive vice president and financial markets head Jim Yap.
“This successful issuance reaffirms investor trust in our strategy and strengthens our ability to fund growth while delivering on our BetterBanking promise,” he said.
The bonds were listed on Wednesday at the Philippine Dealing & Exchange Corp. Philippine Commercial Capital, Inc. and Security Bank Capital Investment Corporation Corp. served as joint lead arrangers and selling agents.
Security Bank recently unveiled its BetterBanking Rewards platform at the “Ready. Set. Redeem!” launch event and mall takeover at Shangri-La Plaza in Mandaluyong City.
The event showcased the bank’s latest innovation designed to make earning and redeeming rewards easier, faster and more meaningful for its credit cardholders.
BetterBanking Rewards is the bank’s flagship digital platform for credit card rewards and rebates, offering customers a real-time, fully automated experience for viewing, managing and redeeming their points.
The event featured interactive booths with product demonstrations, allowing guests to experience first-hand how seamless and rewarding the platform is.
“BetterBanking Rewards will redefine how our customers experience banking—by making every transaction rewarding, every moment convenient, and every point meaningful,” said Security Bank vice president and credit cards head Meri Filart.
“We listened to our customers and understood that they wanted more flexibility and transparency in how they manage their rewards. That’s why we built BetterBanking Rewards around simplicity, speed, and customer empowerment. Every swipe should feel rewarding—and now, it truly is,” said Filart
