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Security Bank Lists Maiden Issuance of PhP 18 Billion Fixed Rate Bonds on PDEx
Posted on: June 28, 2019
In the photo are (from left), Deutsche Bank AG, Manila Branch (Deutsche Bank) Head of Global Markets Michael Chua, Deutsche Bank Managing Director & Chief Country Officer Enrico Cruz, Security Bank Corporation (SECB) Executive Vice President & Treasurer Raul Martin Pedro, SECB Senior Vice President and Chief Dealer Orencio Andre Ibarra III, Philippine Dealing & Exchange Corp. President & Chief Operating Officer Antonino Nakpil and SECB Head of Treasury Sales Jim Yap.
28 June 2019, Makati Philippines – Security Bank Corporation (SECB) lists its maiden issue of 2-Year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The PhP 18 billion SECB Bonds form part of SECB’s PhP 50 billion Bond and Commercial Paper Program.
“We shall today close the first half of 2019 with this listing number fifteen (15) and PHP 185.5 Billion of new listings for the year, 124% higher than the same period last year, and the total outstanding face amount of listed bonds to PHP 1.19 Trillion. All but five of the first semester’s listings have been from bank issuers; and with PHP 380.80 Billion of bonds outstanding, the financial sector has the largest share by volume of issues among the listed instruments,” said PDEx President and COO Antonino A. Nakpil.
“One might say we shall emulate Security Bank’s brand promise of ‘Better Banking’ to its clients, by facilitating “Better Listing” for our community of bank issuers,” he added.
For his part, SECB Executive Vice President and Treasurer Raul Martin A. Pedro remarked: “This maiden issuance in the Peso Bond market is meant to diversify our funding sources, creating a path to tap the capital markets again in the near future in order to optimize our funding costs and continue our focus on delivering best in class returns to our shareholders. It is the largest single issue of the Bank to date.”
Present in the listing ceremony were SECB Executive Vice President and Treasurer Raul Martin A. Pedro, SECB Senior Vice President and Chief Dealer Orencio Andre Ibarra III, SECB Senior Vice President and Head of Treasury Sales Jim Yap, and the sole lead arranger, Deutsche Bank AG, Manila Branch (Deutsche Bank) led by its Managing Director and Chief Country Officer Enrico Cruz.