Security Bank starts P5B bond offer
SECURITY Bank Corp. on Monday started offering P5 billion worth of fixed-rate peso bonds with an oversubscription option under its P200 billion-peso bond and commercial papers program.
The bank set the minimum investment size at P100,000 and increments of P10,000 thereafter.
The bonds have a tenor of five years and one month and a fixed rate of 5.7 percent per annum. Offer period ends on August 13, 2024.
"Security Bank will list the bonds on the Philippine Dealing and Exchange Corp. on August 20, 2024 to provide secondary market liquidity to investors who would like to trade the instruments," it said in a filing.
Net proceeds will be used to support lending activities and expand its funding base.
The bond offering "will support our strategic initiatives and diversify our funding sources," said Arnold Bengco, the bank's executive vice president and financial markets segment head.
"We're confident this offering will deliver value to our clients looking to invest in a high-quality instrument with attractive returns," he added.
- https://www.msn.com/en-ph/news/money/security-bank-starts-p5b-bond-offer/ar-BB1pCuqz?ocid=00000000
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