Security Bank Corp., the 10th largest lender in the country, said Tuesday it raised P20 billion through the issuance of Fixed-Rate Peso Corporate Bonds due in 2029 that carry an annual interest rate of 6.05 percent.
Strong demand for the bonds allowed Security Bank to issue its largest bond offer, which is four times larger than the minimum target of P5 billion. T
he bank also decided to close the bond offer period earlier than planned.
The bonds were also listed Tuesday on Philippine Dealing & Exchange Corp.
Security Bank issued the bond to diversify its funding sources and support its lending activities.
Arnold Bengco, executive vice president and Financial Markets Segment Head at Security Bank, expressed gratitude for the enthusiastic investor response.
“We’re humbled by the overwhelming response to our bond offering, which reflects the strong trust and confidence of our investors in Security Bank and our BetterBanking promise. We’re grateful for their support and will strive to keep delivering value to our clients and stakeholders,” Bengco said.
Philippine Commercial Capital, Inc. served as the Sole Bookrunner for the bond issue, with PCCI and SB Capital Investment Corporation acting as Joint Lead Arrangers and Selling Agents.
Founded in 1951, Security Bank is a prominent private domestic universal bank with total assets of pP948 billion and 328 branches at the end of June.
