Security Bank ok’d to issue LTNCDs
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