Security Bank Corp., the country’s 8th largest lender by assets, said Tuesday it has concluded its bond offering period ahead of schedule due to overwhelming demand and favorable market conditions. The bond offer was originally scheduled to close on August 13.
The bond issue, which initially featured a fixed annual coupon rate of 5.7000 percent, has been adjusted to 6.0500 percent due to the high volume of investor interest. The minimum issue size was P5 billion, with an option for an upsize, reflecting robust investor engagement.
The bonds will be issued, settled, and listed on the Philippine Dealing and Exchange Corp. on 20 August. Offered in scripless form, the bonds come in denominations of P10,000, with a minimum investment requirement of P100,000. Subsequent trading will be available in multiples of P10,000 in the secondary market.
Security Bank will use the proceeds from the bond issuance for lending activities and bolster its funding base. The bond sale is part of the bank’s broader objective to enhance its financial capabilities and expand its market reach.
Philippine Commercial Capital, Inc. and SB Capital Investment Corp. were the joint bookrunners, joint lead arrangers, and selling agents for the bond issuance.
