Security Bank issues Long-Term Negotiable Certificates of Deposit

Security Bank Corporation (SBC) continues to offer its customers investment opportunities with its recent launch of Long-Term Negotiable Certificates of Deposit (LTNCDs). The LTNCDs Offer period is until February 10, in denominations of P10,000 and a minimum investment amount of P50,000 with target issue date on February 17. SBC will issue the seven-year LTNCD with quarterly interest payments. The bank has appointed the Manila branch of Deutsche Bank AG and Standard Chartered Bank as joint lead arrangers and bookrunners. Said banks were also appointed as selling agents, together with Multinational Investment Bancorporation and Security Bank.    P style=”TEXT-ALIGN: justify; MARGIN: 0mm 0mm 0pt” class=MsoNormal] As an investment tool, LTNCDs offer the advantage of higher yield and tax exemption for qualified individual investors if held for more than five years as compared to other investment outlets available in the market. Investors may open a Philippine peso deposit account or nominate an existing account to where interest and redemption of LTNCDs will be credited.