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Security Bank to issue 5B pesos of LTNCDs

Security Bank Corp. will issue 5 billion Philippine pesos of long-term negotiable certificates of deposit, or LTNCDs.

The 5.5-year LTNCDs have indicative pricing of 3.75% to 4.00%, with the final coupon rate to be set prior to or at the end of the offer period.

The LTNCDs will be offered from Aug. 13 to Sept. 4, while the issue date is Sept. 16. The issuance is part of the bank's efforts to extend the term of its liabilities, expand its funding base and fund asset build-up.

Deutsche Bank's Manila branch is the sole lead arranger and selling agent for the issuance, while Security Bank is also a selling agent.

As of Aug. 12, US$1 was equivalent to 52.17 Philippine pesos.