Bank of Commerce (BankCom), the banking arm of conglomerate San Miguel Corp., successfully listed its P6.57 billion 1.5-year Series B Bonds on the Philippine Dealing & Exchange Corp. (PDEx), with overall demand exceeding the original target by 1.3 times, a stock exchange filing on Thursday showed.
Offered at a coupon rate of 6.5635 percent per annum and maturing in 2025, the bonds saw strong demand from both institutional and retail investors.
Proceeds from this issuance, the second tranche of BankCom’s P20 billion bonds program, will be used to refinance maturing debt obligations.
“We are overwhelmed by the market’s response on our second Peso bond issuance. We truly appreciate the confidence shown by both institutional and retail investors in BankCom’s performance, and steeper trajectory of growth since we listed our maiden bond offering in 2022,” BankCom President Michaelangelo Aguilar said in the filing.
