Security Bank’s note offer goes beyond target
Investors swarmed this bank’s debt notes offering.
Security Bank Corporation issued P8.6 billion worth of Long Term Negotiable Certificates of Time Deposit (LTNCD), going beyond the P5 billion which the bank planned to raise.
The long-term notes will mature in five years and six months, which will mature on May 2023. These LTNCDs have a 3.875% coupon rate. The notes have been listed at the Philippine Dealing Exchange for the secondary market.
HSBC and Standard Chartered Bank have been tapped as joint lead arrangers and bookrunners. They are also the selling agents alongside Security Bank and Multinational Investment Bancorporation.