SECURITY Bank Corp. on Tuesday said that it had ended the offering of a five-year fixed-rate peso bond after volume exceeded target.

The offering for a minimum issue size of P5 billion, with the option to increase, began on July 8 and ended on August 5, a week earlier than the previously scheduled closing on August 13.

"The bank is still finalizing the volume. We will give notice on the final volume in the disclosure we will make on the listing date," Security Bank told the stock exchange.

"The final coupon [rate] was within the initial range expected, and the market conditions allowed the Bank to augment the return to investors," it added.

The bank will still follow the original issuance, settlement and listing date of the Philippine Dealing and Exchange Corp. on Aug. 20, 2024.

The bonds' fixed return of 5.7 percent per year was raised to 6.05 percent.

The minimum investment for the scripless bonds, offering in denominations of P10,000 each, was set at P100,000.

"Proceeds of the offering will be used to support the Bank's lending activities and expand its funding base," Security Bank said.

Philippine Commercial Capital Inc. and SB Capital Investment Corp. served as joint bookrunners, joint lead arrangers, and selling agents.

Security Bank's share price was unchanged at P64 on Tuesday.