Safety Financial institution secures P16B from blockbuster bond sale

Tycoon Frederick Dy’s Safety Financial institution Corp. raised P16 billion from the sale of bonds after a large upsizing attributable to sturdy investor demand.

Safety Financial institution stated in a inventory alternate submitting the three.7407-percent fixed-rate bonds, maturing in 1.5 years, had been issued on Wednesday.

Safety Financial institution initially deliberate to difficulty P1 billion in bonds from July 4 to July 15. The supply dimension was ultimately expanded 16 instances “attributable to sturdy demand.”

“Safety Financial institution provided the bonds to assist its lending actions and broaden its funding base,” the lender stated.

The bonds had been listed on the Philippine Dealing & Alternate Corp., it added.

Minimal denominations had been set for P1 million and incremen…

Carry on studying: Security Bank secures P16B from blockbuster bond sale

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