Frederick Dy’s Security Bank to raise at least P3B from debt market
Frederick Dy’s Security Bank to raise at least P3B from debt market
Fredrick DySecurity Bank of the family of bilyonaryo Frederick Dy has set an offering of fixed-rate peso bonds amounting to at least P3 billion to boost its lending activities and expand its funding base.
The bonds with a tenor of 1.5 years will be marketed at a fixed-rate of 5.3 percent per annum from October 17 to 28.
Security Bank will list the bonds on the Philippine Dealing and Exchange Corp. on November 10 to provide secondary market liquidity to investors who would like to trade the instruments.
The bonds form part of the bank’s P100 billion peso bond and commercial papers program.
Philippine Commercial Capital, Inc. is the sole bookrunner while PCCI and SB Capital Investment Corp. are the joint lead arrangers and selling agents for the issue.
Security Bank had total assets of P766 billion as of June 30, It has a total of 316 branches and 629 automated teller machines.
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