Security Bank to issue P20-B LTNCD

MANILA, Philippines - The board of directors of Security Bank Corp. has approved the issuance of up to P20 billion in long-term negotiable certificates of deposit (LTNCD). The LTNCD issuance will be subject to regulatory approval and prevailing market conditions. The LTNCD issuance will be done in multiple-tranche format whereby there may be different maturity dates per tranche. The proceeds from the planned LTNCDs will be used to fund Security Bank’s expansion of earning assets as well as provide customers and investors with suitable investment products. Security Bank is the eight largest private domestic universal bank in the country with total assets of P377 billion, seventh largest in loans with loan portfolio of P166 billion, and eight largest in capital at P42 billion as of end-March 2014.