Security Bank, the country’s 10th largest lender by assets, said it will start on Monday a 12-day public offer of 1.5-year fixed-rate peso bond that would raise at least P8 billion to support lending and expand its funding base. It has an oversubscription option.
The peso bonds, which will have a minimum denomination of P1 million, will have a fixed-rate of 6.425 percent until July 7.
Security Bank will list the Bonds on the Philippine Dealing and Exchange Corp. on July 13, 2023 to provide secondary market liquidity to investors who would like to trade the instruments.
Security Bank has mandated Philippine Commercial Capital Inc. as sole book runner, and PCCI and SB Capital Investment Corp. as joint lead arrangers and selling agents of the bond offer, which will be issued out of the bank’s P100 billion peso bond and commercial papers program.
