Security Bank plans to issue P5-b bonds in Q3

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Security Bank Corp. reported plans to issue P5 billion worth of fixed-rate bonds with an oversubscription option.

The bonds will have a tenor of 5 years and 1 month and will be marketed at a fixed rate of 5.7 percent per annum, the bank said in a statement Monday.

The public offer period will run from July 8 to August 13, 2024. Minimum denominations were set for P100,000 and increments of P10,000 thereafter.

Security Bank will list the bonds in the Philippine Dealing and Exchange Corp. on Aug. 20, 2024.

The bonds will be issued from the bank’s P200-billion bond and commercial papers program.

It said it would use the proceeds to support the bank’s lending activities and expand its funding base.

“We’re excited about this peso bond offering, which will support our strategic initiatives and diversify our funding sources. We’re confident this offering will deliver value to our clients looking to invest in a high-quality instrument with attractive returns,” said Security Bank executive vice president and financial markets segment Arnold Bengco.

Security Bank mandated Philippine Commercial Capital Inc. and SB Capital Investment Corp. as joint bookrunners, joint lead arrangers and selling agents for the transaction. Jenniffer B. Austria

Security Bank had total assets of P887 billion as of March 31, 2024. The Bank has been operating for 73 years since it was established in 1951. It has 327 branches and 660 ATMs, cash recycler machines (CRMs) and cash acceptance machines (CAMs).

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