Security Bank Corp. on Monday launched a five-year, fixed-rate peso bond that seeks to raise at least P5 billion.
The bond that carry a coupon of 5.70 percent will be offered until August 13 at a minimum denomination of P100,000 and subsequent increments of P10,000.
Security Bank plans to list the bonds on the Philippine Dealing and Exchange Corp. on August 20, ensuring liquidity in the secondary market for investors seeking to trade these instruments.
The issuance is part of Security Bank’s P200 billion peso bond and commercial papers program, with proceeds earmarked to bolster the bank’s lending activities and expand its funding base.
Arnold Bengco, Security Bank EVP and Financial Markets Segment Head, said the bond issuance will support the bank’s strategic initiatives and efforts to diversify its funding sources. He added that the offering has the potential to deliver value to clients seeking to invest in a high-quality instrument with attractive returns.
Philippine Commercial Capital, Inc. and SB Capital Investment Corp. have been appointed as joint bookrunners, joint lead arrangers, and selling agents for the issuance.
