Security Bank Corporation Ends its 5-Year Peso Bond Offer Early Amid Strong Demand

Security Bank Corporation (SECB) has ended its bond offer period early as volume significantly exceeded target. Prevailing market conditions also allowed the Bank to augment its returns to its clients. Previously marketed at a fixed rate of 5.7000% per annum, the coupon has been adjusted to 6.0500% per annum. 

The offering had a minimum issue size of P5 billion, with an option to upsize. The offer period began on July 8, 2024, and officially ended August 5, 2024, earlier than the original close of offer on August 13, 2024.

Security Bank will issue, settle, and list the Bonds on the Philippine Dealing and Exchange Corp. on August 20, 2024.

The Bonds were offered in scripless form in denominations of P10,000 each, with a minimum investment of P100,000. Thereafter, the Bonds may be traded in multiples of P10,000 in the secondary market.

Proceeds of the offering will be used to support the Bank’s lending activities and expand its funding base.

Security Bank has mandated Philippine Commercial Capital, Inc. (PCCI) and SB Capital Investment Corporation as Joint Bookrunners, Joint Lead Arrangers, and Selling Agents for this issuance.

Security Bank is a private domestic universal bank in the Philippines with total assets of PHP887 billion as of March 31, 2024. The Bank has been operating for 73 years since it was established in 1951. To date, Security Bank has a total of 327 branches and 662 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs).

In 2024, Security Bank was recognized Best for High-Net-Worth Clients in the Philippines by Euromoney. This is the fourth consecutive year Security Bank wins the Euromoney/Asiamoney award (2024, 2023, 2022, and 2021). Security Bank was awarded The Philippines' Best Bank for Corporates by Euromoney. Also in 2024, Security Bank was awarded Best Investor Relations Company (Philippines), Sustainable Asia Award (formerly called Asia’s Best CSR Award), Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations), and Best Investor Relations Professional (Philippines) by Corporate Governance Asia for four consecutive years (2024, 2023, 2022, and 2021); and Best Digital CX-Account Opening and Onboarding (Retail Banking) by The Digital Banker. The Bank’s MV Tellering System won Best Branch Digitisation Implementation by The Asian Banker. Furthermore, Asian Banking & Finance recognized the Security Bank Wave Mastercard as Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze); the Bank also won the award for Domestic Digital Payment Initiative of the Year for its Billing Invoice Presentment and Payment System (BIPPS).

​In 2023, Security Bank was awarded Best Corporate Bank in the Philippines award by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia for four consecutive years (2023, 2022, 2021 & 2020); Best Payment Solution in the Philippines – BIPPS by Alpha Southeast Asia; the 4 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD); Best Small Cap Company, Philippines 2023 – Silver by FinanceAsia; Workplace Wellness Programme Award – Philippines by ESGBusiness Awards (Singapore); and Renewable Energy Financing Programme-Philippines Award – SB Capital by Alpha Southeast Asia. Security Bank was awarded Excellence in Employee Engagement by Retail Banker International in the RBI Asia Trailblazer Awards 2023. Security Bank ranked in Forbes’ World’s Best Employers in 2023, whereby Security Bank ranked #54 in the world, #2 among Philippine companies, and #1 among Philippine banks. Forbes partnered with market research firm Statista to create Forbes’ seventh annual list of the World’s Best Employers.