Alpha Southeast Asia awarded Light Rail Manila Corp.’s (the private operator of Light Rail Transit Line 1 [LRT 1]) P24-billion ($480-million) loan facility as the Best Project Finance Deal of the Year during the 10th Annual Best Deal & Solution Awards 2016 held at Le Meridien Putrajaya, Malaysia. SB Capital Investment Corp. was one of the joint lead arrangers, while Security Bank Corp. was one of the lenders.
The multibillion-peso project was signed in February 2016. Proceeds from the 15-year loan will be used to rehabilitate the LRT 1 system and partially fund the construction of the 11.7-kilometer LRT 1 project, which will extend the LRT 1 train system to Niog in Bacoor, Cavite.
The Security Bank Group strives to be a partner for national development by providing long-term financing to projects that contribute to the country’s economic growth.
The awards are not just validations of Security Bank’s BetterBanking brand promise, but also testaments to the bank’s commitment to nation-building.
Alpha Southeast Asia is the first and only institutional investment magazine focused on Southeast Asia.
The Annual Best Deal & Solution Awards program covers over 200 deals and solutions from brokerages, commercial and investment banks, and relevant institutions throughout the Southeast Asian region.