November 24, 2017, 4:59 pm
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Security Bank issues, lists P8.6B LTNCDs

Security Bank Corporation successfully raised P8.6 billion worth of Long Term Negotiable Certificates of Time Deposit (LTNCD), which is the first tranche out of its P20 billion approval from the Bangko Sentral ng Pilipinas.

Security Bank initially announced its intention to raise only P5 billion worth of LTNCDs with a tenor of 5 years and 6 months. 

However, after receiving strong support from its own investor base and from other institutional accounts, the bank exercised its oversubscription option and raised a larger issue size. The LTNCDs have a coupon of 3.875 percent and will mature on May 8, 2023.

The LTNCDs were likewise listed today at the Philippine Dealing Exchange, the first instrument Security Bank listed in the platform - allowing its investors better access to the secondary market.

HSBC and Standard Chartered Bank acted as Joint Lead Arrangers and Bookrunners, and were also Selling Agents alongside Security Bank and Multinational Investment Bancorporation.
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