Security Bank Capital Investment Corporation has strengthened the flow of financing to Philippine micro, small, and medium-sized enterprises after successfully arranging and managing P4 billion in privately placed social corporate note issuances for Asialink Finance Corporation, Global Dominion Financing, Inc., and South Asialink Finance Corp., collectively known as the Asialink Group.
The issuances are backed by guarantees from the Credit Guarantee & Investment Facility, reinforcing investor confidence while channeling capital toward one of the economy’s most vital yet underserved sectors.
Proceeds from the notes will be directed toward expanding the Asialink Group’s MSME loan portfolios, helping address persistent financing gaps faced by smaller businesses across the country. While MSMEs remain a major engine of growth and employment, access to formal credit continues to be limited, making alternative financing channels increasingly critical.
The transactions were structured as social corporate notes under the Asialink Group’s Social Finance Framework, which was developed in partnership with the Asian Development Bank.
The framework aligns with the ASEAN Social Bond Standards of the ASEAN Capital Markets Forum and the Social Bond Principles of the International Capital Markets Association, underscoring the issuances’ adherence to globally recognized sustainability and transparency benchmarks. Independent validation was provided through a Second Party Opinion issued by DNV (Thailand) Co., Ltd.
Virgilio O. Chua, president and chief executive officer of Security Bank Capital, said the transaction reflects a broader commitment to inclusive growth. He noted that institutions like the Asialink Group play a crucial role in expanding financial access for MSMEs through tailored lending solutions, adding that the deal demonstrates how capital markets can be mobilized to support social and economic development.
Chua also pointed to the role of the CGIF guarantee in strengthening the transaction’s appeal. By enhancing the credit profile of the notes, the guarantee widened investor participation and reinforced confidence in social finance instruments at a time when sustainable investing continues to gain traction.
The importance of MSME financing remains clear. Data from the United Nations Development Programme show that MSMEs account for nearly all business establishments in the Philippines, employ a majority of the workforce, and contribute a substantial share of gross domestic product.
Despite this, the Bangko Sentral ng Pilipinas’ 2021 Financial Inclusion Survey revealed that banks accounted for only a small fraction of MSME funding sources, highlighting the need for diversified financing options.
Security Bank Corporation, 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).
Under the transaction, Asialink Finance Corporation raised P2 billion through five-year corporate notes, while Global Dominion Financing and South Asialink Finance Corp. each secured P1 billion with three-year tenors. The notes were initially drawn on December 23, 2025, marking a significant step forward in scaling sustainable financing for MSMEs nationwide.
