By Marisa Wong
Madison, Wis., Aug. 1 - Security Bank Corp. said it priced PHP 5 billion of series 2 long-term negotiable certificates of deposit due 2019 at par with a coupon of 5½%.
Deutsche Bank AG, Manila Branch and Standard Chartered Bank were the joint lead arrangers for the offering.
The offer period began on July 26 and ended on July 31 instead of on Aug. 8 as originally scheduled.
Settlement is slated for Aug. 15.
Security Bank announced at the beginning of the offer that the deal size would be at least PHP 3 billion and could be increased.
As previously reported, the Makati City, Philippines-based bank received approval in November 2011 from the Monetary Board of the Bangko Sentral ng Pilipinas to issue up to PHP 5 billion of long-term fixed-rate negotiable CDs with a minimum maturity of five years and three months and a maximum term of seven years.
Issuer: | Security Bank Corp.
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Issue: | Series 2 long-term negotiable certificates of deposit
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Amount: | PHP 5 billion
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Maturity: | 2019
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Coupon: | 5½%
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Price: | Par
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Yield: | 5½%
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Arrangers: | Deutsche Bank AG, Manila Branch and Standard Chartered Bank
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Offer period: | July 26-31
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Settlement date: | Aug. 15
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