Bank of Commerce (BankCom), an affiliate of San Miguel Corp., has started a public offer of dual-tranche fixed rate bonds due in 2027 and 2030. The bonds will be issued as the third tranche of BankCom's increased P50-billion bond program. The proceeds will be used for balance sheet management, funding diversification, and general corporate purposes.
LISTED Bank of Commerce , an affiliate of Ramon Ang-led San Miguel Corp. , has started the public offer of dual-tranche fixed rate bonds due 2027 and 2030.In a disclosure, BankCom said the offering would have minimum aggregate issue size of P5 billion with an oversubscription option. The size of the latter was not specified.The bonds will be issued as the third tranche of BankCom's increased P50-billion bond program, it added.
BankCom said both bond series are targeted to be issued and listed on the Philippine Dealing and Exchange Corp. on Feb. 19, 2025.'Proceeds from the issuance will be used for management of the bank's balance sheet, diversification of funding sources, and general corporate purposes,' it added.ING Bank N.V., Manila Branch, Philippine Commercial Capital Inc., Security Bank Capital Investment Corp.
BONDS BANKCOM FIXED RATE PHILIPPINE DEALING AND EXCHANGE CORP SAN MIGUEL CORP
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