The issuance, completed in less than three days, indicates strong appetite from both retail and institutional investors.
The offering included P10 billion in two-year Series C Bonds at a fixed 6.1942 percent rate and P8 billion in five-and-a-quarter-year Series D Bonds at 6.3494 percent. The bonds were listed on the Philippine Dealing & Exchange Corp. (PDEx) on Feb. 19, 2025.
Management’s view
“We appreciate the strong support of investors and are elated that one of our shortest peso bond offering has also become the largest in BankCom’s history,” BankCom president Michelangelo Aguilar said in a statement.
“Their overwhelming response reflects their confidence in the bank’s strong fundamentals, and their preference for a clear and solid business strategy continues,” he added.
Balance sheet support
Proceeds will support balance sheet management, funding diversification, and general corporate purposes. The issuance is the third tranche under BankCom’s P50-billion peso bond program.
BankCom’s strong financial position fueled demand, with its net income rising 10 percent to P2.2 billion as of September 2024. Return on equity climbed to 9.27 percent, more than double its IPO projection of 4.22 percent.
Growth in core lending and a double-digit increase in net interest income drove the bank’s profitability. Additional revenue gains came from investment banking, credit cards, and trust services.
BankCom, along with ING Bank, PCCI Capital, Security Bank Capital, and Standard Chartered, served as joint lead arrangers and bookrunners for the issuance.
