MAKATI CITY – Security Bank (PSE: SECB) successfully raised PHP6.06bn in its offer of Long-Term Negotiable Certificates of Deposit (LTNCD), marking the second time the Bank has tapped the debt capital markets this year. This issuance was driven by solid demand from both retail and institutional investors, resulting in total subscriptions of PHP6.06bn, exceeding the original offer of PHP5bn, and allowing the Bank to successfully price the LTNCD at 4.00% despite rising interest rates and broader market volatility. SECB Executive Vice President and Treasurer Raul Pedro remarked: “This issuance has firmly placed our credit amongst retail investors – the LTNCD gives the investing public the chance to further express their confidence in Security Bank’s stability and ability to grow”.
The PHP6.06bn drawdown marks the first tranche of SECB’s PHP20bn approval from the Bangko Sentral ng Pilipinas. The issue date is set to today, September 23, 2019, with March 23, 2025 as maturity date. The LTNCD issuance is part of the Bank’s efforts to diversify its funding sources and support business expansion plans.
Deutsche Bank AG, Manila Branch (DB) acted as the Sole Lead Arranger and Selling Agent, assisted by Security Bank. The Bank would like to thank its clients and the investing public for their continued confidence and support for this transaction.
About Security Bank
Security Bank is among the six largest private domestic universal banks in the Philippines by total assets (at Php 767 billion) as of December 31, 2018. The Bank has been operating for 68 years since it was established in 1951.
Security Bank’s major awards received in 2019 are: The Best Retail Bank in the Philippines for 2019 by The Asian Banker and Deposit Product of the Year – “All Access Account” by The Asian Banker; and Best Bank in the Philippines and Best SME Bank in the Philippines by Alpha Southeast Asia. Awards received in 2018 were: Bank of the Year- Philippines 2018 by The Banker; Best Bank in the Philippines 2018 by Global Finance; The Best Retail Bank in the Philippines for 2018 by The Asian Banker; Best Retail Bank in the Philippines 2018 by Alpha Southeast Asia; Asia’s Best CEO (Investor Relations, Philippines) for Mr. Alfonso L. Salcedo, Jr., Asia’s Best CFO (Investor Relations, Philippines) for Mr. Joselito E. Mape, and Best Investor Relations Company Philippines from Corporate Governance Asia; and People Program of the Year Award for Security Bank’s Total Wellness Program by People Management Association of the Philippines (PMAP).
Security Bank’s awards in 2017 were: Alpha Southeast Asia’s Best Bank in the Philippines; Asiamoney’s Best Bank for SMEs–Philippines; Capital Finance International’s Best Digital Bank–Philippines; The Asian Banker’s Future of Finance in Philippines Awards Deposit Product of the Year (All Access Account); The Asset Benchmark Research Awards’ Top Bank for Government Bonds, Top Bank for Corporate Bonds, and Top Investment House; The Asset Triple A Awards 2017 Best Regional Specialist (Public Sector), Philippines, and Best in Treasury and Working Capital (Public Sector), Philippines; from KAPATID 2017 Awards of the Employers Confederation of the Philippines — Special Citation Award on Industrial Peace and Harmony; and from Corporate Governance Asia — Asia’s Best CEO (Investor Relations, Philippines) for Mr. Alfonso L. Salcedo, Jr., Asia’s Best CFO (Investor Relations, Philippines) for Mr. Joselito E. Mape, and Best Investor Relations Company Philippines.
In 2016, the Bank was named Bank of the Year–Philippines by The Banker; Philippines’ Best Bank by Euromoney; Best Improved Retail Bank in Asia Pacific, Central Asia, Africa and the Gulf Region by The Asian Banker; Highly Commended as Best Bancassurance by Retail Banker International; Award for Excellence for the Better Banking Campaign from the Philippine Quill Awards; Best Electronic Bank for the Philippines by The Asset; and Best Cash Management and Treasury and Working Capital Bank by The Asset.