Security Bank Raises P13.5B from Bond Issuance

Security Bank (PSE: SECB) issues fixed rate bonds (Bonds) amounting to PhP13.5 billion. This final issue size represents a significant upsize from the initial issue size of PhP5 billion given strong investor demand, which prompted SECB to close the offer period for the bonds early.

The 2-year Bonds carry a fixed interest rate of 3.125% per annum. Minimum denominations have been set for PhP1,000,000 and increments of PhP100,000 thereafter.

“We want to thank our investors and clients for the unwavering trust and support despite volatile times. Our Bonds were met with strong demand and we had to increase our original issue size by 2.7x to accommodate the orders,” remarked SECB EVP and Treasurer Raul Martin Pedro.

The Bonds will be issued out of the Bank’s PhP100 billion Peso Bond and Commercial Paper Program (Program). The Program was initially established in December 2018 with an aggregate amount totaling PhP50 billion and had been subsequently increased to PhP100 billion as approved by the Bank’s Board of Directors.

SECB has mandated Philippine Commercial Capital, Inc. n(PCCI) as Sole Bookrunner, and PCCI and SB Capital Investment Corporation as Joint Lead Arrangers and Selling Agents for this issuance.

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