Security Bank Capital Investment Corporation (Security Bank Capital), the wholly owned investment banking arm of Security Bank Corporation, successfully arranged and managed PHP4 billion in privately placed corporate note issuances for Asialink Finance Corporation (AFC), Global Dominion Financing, Inc. (GDFI) and South Asialink Finance Corp. (SAFC), collectively the Asialink Group. The notes are guaranteed by the Credit Guarantee & Investment Facility (CGIF).
Proceeds from the notes will be used to expand the Asialink Group’s micro, small and medium-sized enterprise (MSME) loan portfolios, supporting a sector that remains a key driver of economic growth and job creation in the Philippines, yet continues to face gaps in access to formal financing.
The notes are classified as social corporate notes under the Asialink Group’s Social Finance Framework, developed in partnership with the Asian Development Bank (ADB). The issuances comply with the ASEAN Social Bond Standards of the ASEAN Capital Markets Forum (ACMF), and the Social Bond Principles of the International Capital Markets Association (ICMA). The Second Party Opinion on the framework was provided by DNV (Thailand) Co., Ltd.
Virgilio O. Chua, President and CEO of Security Bank Capital, emphasized the importance of expanding access to financing for underserved segments of the economy. “Institutions like the Asialink Group play a critical role in advancing financial inclusion by providing tailored solutions for MSMEs,” said Chua. “We are proud to support this milestone transaction, which aligns capital market development with inclusive economic growth.”
Chua highlighted CGIF’s role in strengthening the transaction. “The CGIF guarantee enhances the credit quality of the notes and broadens investor participation, reinforcing confidence in social finance instruments,” Chua added.
According to data from the United Nations Development Programme, MSMEs account for 99.5% of business establishments in the Philippines, employ 63% of the workforce, and contribute 40% of GDP. Despite this, BSP’s 2021 Financial Inclusion Survey showed that banks accounted for only 4% of MSME funding sources, underscoring the importance of alternative financing channels.
Security Bank, the parent company of Security Bank Capital, led the group of participating noteholder banks alongside KEB Hana Bank (Manila Branch) and the Industrial Bank of Korea (Manila Branch). AFC raised PHP2 billion from the issuance of five-year corporate notes, while GDFI and SAFC each raised PHP1 billion with three-year tenors. The notes were initially drawn on December 23, 2025.
