Security Bank Corporation (PSE:SECB) took home awards for Transport Deal of the Year and Telecom Deal of the Year at The Asset Triple A Sustainable Infrastructure Awards, held on July 9, 2024, at the Four Seasons Hotel, Singapore.
The Bank won Transport Deal of the Year for its role as one of the senior syndicated term lenders of PHP100 billion to complete San Miguel Corporation’s (SMC) Mass Rail Transit 7 (MRT-7) project—the largest onshore project finance facility to-date in the Philippines. Once completed, the MRT-7 project will consist of a 22-kilometer metro rail transit system with 14 stations from Quezon City to Bulacan and a 19-kilometer highway to alleviate traffic to and from North Luzon.
SB Capital Investment Corporation, the Bank’s wholly owned investment banking arm, was one of the lead arrangers of the deal.
Additionally, the Bank won Telecom Deal of the Year for its role as lender in an up to PHP4.8 billion Term Loan Facility to finance iSON Tower Limited’s construction and operation of up to 800 telecommunication towers in underserved areas across the Philippines. Financing of the project adopted a portfolio lending approach, which bundled together micro projects that would have been too costly to fund on their own.
“Thanks to The Asset for recognizing Security Bank’s contributions to the development of sustainable infrastructure and telecommunications in the Philippines. The SMC MRT-7 and iSON Tower projects are very much aligned with our goal to enrich lives, empower businesses, and build communities sustainably,” said Yvonne Marcelo, SVP and Corporate Banking Group Head, Security Bank. “We also thank our partners, San Miguel Corporation and iSON Tower Limited, for trusting us as their financial partner in these landmark transactions. We look forward to supporting more projects that will enhance the quality of life and economic growth of our nation.”
The Asset Triple A Sustainable Infrastructure Awards honor institutions and deals that demonstrate excellence in sustainable financing and infrastructure development.
Full results are published in an issue of The Asset and on TheAsset.com.