Bank of Commerce (BankCom), an affiliate of San Miguel Corp., said it raised P18 billion from the issuance of debt papers.
The bank’s latest bond offering had warm reception from retail and institutional investors which enabled it achieve its largest peso bond offering to date.
The dual-tranche fixed rate bonds due 2027 (Series C Bonds) and due 2030 (Series D Bonds) exceeded the minimum offer size of P5 billion by 3.6 times. As a result, the bank shortened public offer to three days,
“We appreciate the strong support of investors and are elated that one of our shortest peso bond offering has also become the largest in BankCom’s history. Their overwhelming response reflects their confidence in the bank’s strong fundamentals, and their preference for a clear and solid business strategy continues,” BankCom president Michelangelo Aguilar said in a statement to the stock exchange Wednesday.