A PUBLICATION OF THE SBC GROUP OF COMPANIES
Security Bank’s maiden foray in foreign debt capital markets a success Security Bank completed its inaugural issuance of $300-million senior unsecured notes in the foreign debt capital markets in the first quarter of the year. The final orderbook was oversubscribed 5.8 times across 187 accounts, amounting to $1.75 billion. SB Capital Investment Corporation was one of the domestic lead arrangers. Security Bank decided to tap international markets to extend its term liabilities and expand its foreign currency base, capitalizing on historically low US$ rates. In terms of geographic distribution of bond investors, 58% came from the Philippines, another 35% from the rest of Asia, and 7% from Europe. In terms of investor type, half came from the banking sector, 38% from fund managers, and 7% from private banks. Initial pricing guidance for the notes was 4.20% but due to overwhelming demand from both onshore and offshore accounts, the notes were priced at yield of 3.95%. The notes were priced at par and will pay coupon at the rate of 3.95% per annum on a semi-annual basis. The bonds will mature on February 2020.
APRIL 2015
FWD Life partners with Security Bank to offer insurance solutions
Shown in photo are (from left): Peter Grimes, FWD Philippines President & Chief Executive Officer; Leslie Cham, Security Bank SVP-Branch Banking Group Head; Chona Ventura, FWD Philippines Chief Financial Officer; Ma. Cristina A. Tingson, Security Bank EVP-Retail Banking Segment Head, Huynh Thanh Phong, FWD Group Chief Executive Officer; Alberto Villarosa, Security Bank President & Chief Executive Officer; Ma. Concepcion Cruz, Security Bank SVP-Asset Management Group Head; Rafael Algarra, Jr., Security Bank EVP-Financial Markets Segment Head; Cecile Cajulis, FWD Philippines Regional Sales Director; and Delbert Ang-It, Security Bank VP-Bancassurance Head.
FWD Life Insurance Corporation (FWD Life), the life insurance arm of Hong Kong-based Pacific Century Group has partnered with Security Bank Corporation (SBC), 8th largest private domestic universal bank in the country, to bring innovative insurance services to the Philippine market. A colorful kick-off party marked the beginning of the partnership and official rollout of FWD Life products in all Security Bank branches in Metro Manila. Security Bank makes these insurance products easily accessible with dedicated FWD Life Financial Solutions Consultants (FSCs) present in each branch to provide professional advice about customers’ individual insurance needs.
Customers looking for practical insurance products will initially have two FWD life insurance savings plans that feature attractive optional benefits. A number of additional insurance solutions and products are also in the pipeline. Security Bank and FWD Life aim to complete the nationwide rollout to offer more insurance services by the end of 2015. Security Bank President and Chief Executive Officer Alberto S. Villarosa underscores how bancassurance aligns with the bank’s thrust towards BetterBanking. “We are happy that through this partnership, we are able to further beef up our financial services portfolio. Offering insurance services to our bank’s customers is an integral and strategic aspiration for the bank.
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