Bank of Commerce, the banking unit of San Miguel Corp., listed its maiden issuance of P7.5-billion 2-year Series A Bonds on Philippine Dealing & Exchange Corp., with aggregate order book exceeding the original target issue size by more than three times.
The bank said the strong demand prompted it to increase the issue size from the original P3 billion to P7.5 billion and end the offering period on July 12, 10 days ahead of the original closing date.
“The overwhelming response from both institutional and retail investors on our first ever Peso bond issuance underscores the market’s confidence in BankCom’s performance and our growth potential,” Bank of Commerce president and chief executive Michelangelo Aguilar said.
The bond was offered on July 11 at a coupon rate of 5.0263 percent per annum due 2024. Minimum denominations were set for P100,000 and increments of P50,000 thereafter. The bonds were listed on July 29 in PDEx.
