Security Bank Lists PhP 2.07 Billion LTNCTD in PDExPosted on: February 5, 2020
05 February 2020, Makati, Philippines — Security Bank Corporation (SECB) lists PhP 2.07 billion worth of Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2025, the third tranche of its approved PhP 20 billion LTNCTD issuance, on the Philippine Dealing & Exchange Corp. (PDEx).
PDEx President & Chief Operating Officer Antonino A. Nakpil said: “It is early in the listing year and the banking sector is continuing the trend of the past eighteen months by taking all four of the first listings. But we are encouraged by the fact that Issuer Banks have been the pilot testers of various PDS initiatives to streamline the listing and registration process, that is NoCD, FI-ATP 2019, digitized ATPs to name a few. Thank you for this support and we welcome all feedback to improve these services.”
On SECB’s part, Senior Vice President & Deputy Treasurer Orencio Andre P. Ibarra III remarked: “This LTNCTD issuance is part of the bank’s efforts to diversify its funding sources and to support future business expansion plans. We now live in an increasingly unpredictable and volatile world. Just last month, we saw the US – Iran conflict escalate, the eruption of Taal volcano and most recently the spread of the novel corona virus. It is just prudent that our bank continue to secure longer term funding to minimize any uncertainties related to these kinds of events.”
Today, the total new listings for the year stand at PhP 62.35 billion and the total level of debt instruments listed is now at PhP 1.38 trillion, composed of 194 securities, issued by 52 companies.
PDEx Press Release_SECB LTNCTD Due 2025_third tranche