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October 01, 2022

Security Bank eyes at least P1B via peso bond offering

Security Bank Corp. headed by bankero Sanjiv Vohra is raising at least P1 billion via the offering of fixed-rate peso bonds in its return to the domestic bond market.

The fund raising activity via the issuance of 1.5-year bonds due 2024 with a fixed rate of 3.7407 percent per annum has an oversubscription option.

Offer period kicked off Monday and will end on July 15. Minimum

denominations have been set for P1 million and increments of P100,000 thereafter.

Security Bank will list the Bonds on the Philippine Dealing and Exchange Corp. (PDEx) on July 20 to provide secondary market liquidity to investors who would like to trade the instruments.

The fund raising activity is part of the bank’s P100 billion peso bond and commercial papers program.

Security Bank has mandated Philippine Commercial Capital Inc. as Sole Bookrunner, and PCCI and SB Capital Investment Corp. as Joint Lead Arrangers and Selling Agents for this issuance.

The last time the listed bank tapped the domestic bond market was in July 2020 when it raised P13.5 billion via the issuance of peso bonds. Security Bank has doubled its bond and commercial paper program to P100 billion recently.

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