Security Bank grants P3.5 billion loan to ICCP Group

MANILA, Philippines — Security Bank Corp. has granted a P3.5-billion loan facility to support the expansion plans of Science Park of the Philippines, Inc. (SPPI) and Pueblo de Oro Development Corp. (PDO), both member companies of the ICCP Group.

Investment and Capital Corp. of the Philippines (ICCP), a leading independent investment house, facilitated the loan arrangement. It signifies the start of a strong partnership between Security Bank and the ICCP Group of Companies.

The financing agreement allocates P2.56 billion for SPPI, an industrial park developer, and P960 million for PDO, a residential and mixed-use property developer. The funds will be used for new projects and expansion initiatives.

“ICCP is proud to support PDO and SPPI in furthering their respective missions of responsible, climate-adapted township & industrial estate developments,” Valentino Bagatsing, chairman and CEO of ICCP, said in a statement.

Security Bank chairman Cirilo Noel underscored the significance of the partnership as the lender wanted to team up with an institution that has credibility, integrity and excellence.

“I wish this partnership would be a long-standing partnership that will be for both our success and benefit, and create economic value to our shareholders, to our community and also to the country,” Noel said.

Security Bank’s loans to ICCP align with the lender’s mission to enrich lives, empower businesses, and build communities sustainably. The bank plans to strengthen its collaboration with ICCP through various financial services, including loans, deposits and cash management solutions.

ICCP Group chairman Guillermo Luchangco expressed gratitude for Security Bank’s support, citing that SPPI and PDO’s expansion aligns with their core values of integrity, ethics and quality.

“Security Bank is a perfect banking partner for us,” he said.

SPPI is a pioneer in private industrial estate development in the Philippines, with nearly 1,500 hectares of industrial parks established across key locations such as Laguna, Batangas, Lapu-Lapu City and Hermosa, Bataan.

Future projects are planned in San Jose, Batangas and Tarlac City, as well as a partnership with the Bases Conversion and Development Authority to develop a 100-hectare industrial park in New Clark City, Tarlac.

Meanwhile, PDO continues to expand its footprint in residential and mixed-use developments in Batangas, Pampanga and Lapu-Lapu City.

The company’s flagship 400-hectare township in Cagayan de Oro remains a key sustainable development project, with two major developments set to launch in the next two years.