Bank of Commerce Launches Peso Bond Offering

San Miguel-led Bank of Commerce (BankCom) has started the public offer of its dual-tranche fixed rate bonds, aiming to raise at least P5 billion with an oversubscription option.

- - Keisha Ta-asan

In a disclosure to the local bourse, BankCom said the offering marks the third tranche under the bank's expanded P50 billion peso bond program.

The bond issuance includes Series C Bonds due 2027 and Series D Bonds due 2030. The Series C Bonds have a tenor of two years and a fixed interest rate of 6.1942 percent per annum.

Meanwhile, the Series D Bonds have a tenor 5.25 years and will offer a fixed interest rate of 6.3494 percent per annum. Both bonds will pay interest quarterly, with a minimum investment amount set at P100,000, followed by increments of P50,000.