Security Bank Issues and Lists Php 8.6 billion LTNCDs

November 8, 2017 – ‎Security Bank Corporation successfully raised Php 8.6 billion worth of Long Term Negotiable Certificates of Time Deposit (LTNCD), which is the first tranche out of its Php 20 billion approval from the Bangko Sentral ng Pilipinas.

Security Bank initially announced its intention to raise only Php 5 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% 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.