Philippines’ Security Bank to issue second tranche preferreds April 1

By Marisa Wong

Morgantown, W.Va., March 29 – Security Bank Corp. said its board of directors approved the issuance of a second tranche of preferred shares.

The second tranche will be issued on April 1, according to a Philippine Stock Exchange notice.

The dividend rate will initially be set at the 10-year PDST-R2 rate and will be reset every 10 years.

The bank is based in Makati City, Philippines.

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