PHILIPPINES PRESS-Security Bank plans $222 mln Tier 2 capital raising - Standard Today

Tue Mar 25, 2014 9:18pm EDT

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Philippine lender Security Bank Corp said it will issue 10-year bonds to raise up to 10 billion pesos ($222 million) in a bid to boost capital, Manila Standard Today newspaper reported.

Final pricing and offering period of the Tier 2 notes, which are compliant with the Basel III capital framework, would depend on market conditions and the date of central bank approval.



NOTE: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 45.0700 Philippine pesos) (Compiled by Manila Newsroom; Editing by Anupama Dwivedi)