Security Bank Corporation Returns to PDEx with its PHP 16 Billion Fixed Rate BondsPosted on: July 26, 2022
20 July 2022, Makati, Philippines — The local debt market celebrates the 17th listing for the year with Security Bank Corporation’s (SECB) PHP 16 billion Fixed Rate Bonds due 2024, which have a tenor of 1.5-year and quarterly coupon priced at 3.7407% per annum. The issuance exceeded the original target thus keeping SECB’s track record of oversubscriptions intact.
Today’s virtual listing ceremony was opened by PDEx President and CEO Antonino A. Nakpil, he said: “…it is not every day that we get to welcome Security Bank Corporation, one of the active supporters of PDS Group initiatives, to ring the bell. This issuance and listing of PHP 16 billion Fixed Rate 1.5 -Year Bond is auspicious as it brings the level of new bonds listed for 2022 over the 300 billion mark at PHP 304.6 billion today.”
“We are happy to see bank issuers come back to the market for 2022 at this point now accounting for 44% of the new issues and certainly a positive sign for an economy battling to grow despite challenges continually being hurled its way. It is good to see market stalwarts like Security Bank Corporation still raising funds through the public via the capital market and maintaining its relationship with its investors, especially domestic investors whom we posit are still far from becoming a supply-chain problem for funding.,” Mr. Nakpil further added.
This 17th admission for 2022 brings the year-to-date total of new listings to PHP 304.62 billion, pushing the total level of tradable corporate debt instruments to PHP 1.35 trillion issued by 53 companies, comprised of 189 securities.