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October 01, 2023

Security Bank initiates P8-Billion bond offering

Security Bank Corporation (Security Bank) has announced its plan to raise a minimum of P8 billion through a fixed-rate peso bond offering as part of its P100 billion Peso Bond and Commercial Papers Program.

he bonds, with a tenor of 1.5 years and a fixed rate of 6.4250 percent per annum, will be marketed during the public offer period from June 26, 2023, to July 7, 2023.

The proceeds from the offering will be utilized to support the bank’s lending activities and expand its funding base.

Security Bank will list the bonds on the Philippine Dealing and Exchange Corporation on July 13, 2023, to provide secondary market liquidity.


BSP disqualifies unregistered money service business

The Bangko Sentral ng Pilipinas (BSP) has disqualified Riyben Foreign Exchange for operating an unregistered money service business, part of BSP’s ongoing efforts to curb unauthorized MSBs, following similar actions taken against six other firms earlier this year.

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