<article>Bond sale increase and financing of a massive government project, were two of the latest developments in the banking scene in the Philippines. Details.</article>

Bond sale increase and financing of a massive government project, were two of the latest developments in the banking scene in the Philippines. Details.
<h2>Security Bank hikes global bond sale to $300m</h2>
The Philippines&#8217;s eighth largest bank <a href="https://www.securitybank.com/" target="_blank">Security Bank</a> raised $300 million (P13.2 billion) from its unsecured notes sale in the international market.
The bank said its senior notes are expected to be listed on the Singapore Exchange Securities Trading Ltd as it scored a bond issue rating of BB+ from S&amp;P to mature on February 3, 2020.
&#8220;The Senior Notes received strong investor demand. The final overbook was oversubscribed by 5.8 times across 187 accounts, amounting to $1.7 billion,&#8221; Security Bank disclosed to the stock exchange.
Distribution by investor types includes, 50 per cent banks, 38 per cent fund managers, 7 per cents PB, and others at 5 per cent.
ANZ, Deutsch Bank, and UBS acted as joint lead managers and joint bookrunners for the senior notes issuance, while Development Bank of the Philippines and SB Capital acted as domestic lead arrangers.
<h2>ADB finances Cebu airport upgrade with $75m loan</h2>
In proving its commitment to assist the government in developing critical infrastructure in the Philippines, <a href="http://www.adb.org/" target="_blank">Asian Development Bank (ADB)</a> approved a $75 million loan for the <a href="http://www.mciaa.gov.ph/" target="_blank">Cebu Airport</a> upgrade, dubbed the first large scale public-private partnership (PPP) project awarded by the government.
The airport&#8217;s rehabilitation is expected to boost passenger traffic, support inclusive growth, as well as emergence of new commercial facilities.
ADB&#8217;s support made it as the seventh largest bank participating in the Omnibus Loan and Security Agreement (OLSA) of GMR-Mega wide Cebu Airport Corp (GMAC) which includes debt of $450 million (P20 billion) from a consortium of Philippine banks, namely BDO Unibank Inc, Bank of the Philippine Islands, Development Bank of the Philippines, Land Bank of the Philippines, Metropolitan Bank &amp; Trust Company, and Philippine National Bank.
GMAC president Manuel Louie Ferrer said MCIA&#8217;s infrastructure improvement is needed to further stimulate the domestic industry and enhance socioeconomic opportunities.
Passenger capacities at the new terminal and upgraded one is predicted to reach 12.5 million each year. The project will be developed under a 25-year concession agreement for the operation of both terminals and commercial outlets

PH Dealbook: Security Bank, ADB

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PH Dealbook: Security Bank, ADB

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