Security Bank Raises 13.5 Billion Fixed Rate Bonds on PDExPosted on: July 24, 2020
24 July 2020, Makati, Philippines — Security Bank Corporation (SECB) lists its PHP 13.5 Billion Fixed Rate Bonds Due 2022 on the Philippine Dealing & Exchange Corp. (PDEx), paying quarterly coupons priced at 3.125% per annum. The issuance exceeded its original target of PHP 5 billion backed by strong investor demand.
PDEx President and Chief Operating Officer Antonino A. Nakpil said, “We are pleased to welcome Security Bank Corporation back to list this PHP 13.50 Billion two-year Fixed Rate Bond. This is the second issuance of Security Bank for 2020 and from its initial size of PHP 5 Billion, again oversubscribed and keeping its track record of oversubscriptions intact.”
“We must note that this funding exercise is happening amidst a large Retail Treasury Bond offering of the Government, which is headed even higher into record territory in terms of new funding and after the debt exchange surely in record outstanding size. Through these circumstances, this strong response to your issuance must probably indicate that investors have trust in the security of Security’s securities,” he added.
For his part, SECB Executive Vice President & Treasurer Raul Martin A. Pedro remarked, “Thank you to everyone for making this day possible. I wouldn’t want to say that this deal was easy. Admittedly, there were many factors that went in our favor – the enormous amount of market liquidity, low inflation, very accommodative stance by our monetary authorities, and a number of accounts and individuals looking for safe investment outlets.”
Philippine Commercial Capital, Inc. President Delta A. Audencial also shared a few words as the Sole Bookrunner, Market Maker, and one of the issuance’s Arrangers.
“This successful issuance is a huge achievement and a testament to the continued confidence and support of investors for Security Bank Corporation, despite the uncertainties brought about by the pandemic,” said Ms. Audencial.
This 21st listing for 2020 brings the year-to-date total of new listings to PHP 253.83 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.48 Trillion issued by 56 companies, comprising 203 securities.