Security Bank Aises P2.07b in LTNCD

SECURITY Bank has successfully raised P2.07 billion in its offer of Long-Term Negotiable Certificates of Deposit (LTNCD).

This issuance was driven by solid demand from retail investors, resulting in total subscriptions of P2.07 billion, exceeding the original offer of P1 billion. This follows on the back of the P2.31 billion tranche issued by the bank in December 2019.

The P2.07 billion drawdown marks the third tranche of Security Bank’s P20 billion approval from the Bangko Sentral ng Pilipinas.

The issue date is set on Feb. 5, 2020, with Aug. 5, 2025 as maturity date.

The LTNCD issuance is part of the bank’s efforts to diversify its funding sources and support business expansion plans.

Multinational Investment Bancorporation acted as the sole lead arranger and selling agent. (PR)