Se­cu­rity Bank ok’d to is­sue LTNCDs

Sun.Star Davao - - BILLBOARD -

AS dis­closed to the PSE ear­lier to­day, Se­cu­rity Bank Cor­po­ra­tion con­firms that it has ob­tained the ap­proval of the Mone­tary Board of the Bangko Sen­tral ng Pilip­inas (BSP) to is­sue Long Term Ne­go­tiable Cer­tifi­cates of Time De­posit for a to­tal is­sue size of up to P20 bil­lion to be is­sued in one or more tranches within one (1) year.

This gives Se­cu­rity Bank the flex­i­bil­ity to raise long-term fund­ing, di­ver­sify its fund­ing sources, lengthen the tenor of its li­a­bil­i­ties, and sup­port fu­ture growth. In this re­gard, the Bank in­tends to com­mence the of­fer pe­riod of the first tranche of the LTNCDs in Oc­to­ber 2017. PR

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