annual report grupo security - Banco Security

annual report 2007grupo securitypage 59s e r i e s C - 2 b o n d sDATE: March 17, 2006.· Debt level: defined as the ratio of debt to shareholders’ equity in the unconsolidated balance sheet, whichshould not exceed 0.40:1 as from the financial statements at September 30, 2004. For determining the level ofdebt in the unconsolidated financial statements, liabilities include all guarantees or collateral granted to coverthe obligations of third parties, even if these are subsidiaries.· Ownership of Banco Security: the Company should be the holder, directly or indirectly through one or moresubsidiaries, of at least 51% of the issued shares with voting rights of Banco Security.s e r i e D b o n d sDATE: March 17, 2006.· Debt level: defined as the ratio of debt to shareholders’ equity in the unconsolidated balance sheet, whichshould not exceed 0.40:1 as from the financial statements at December 31, 2005. For determining the level ofdebt in the unconsolidated financial statements, liabilities include all guarantees or collateral granted to coverthe obligations of third parties, even if these are subsidiaries.· Ownership of Banco Security: the Company should be the holder, directly or indirectly through one or moresubsidiaries, of at least 51% of the issued shares with voting rights of Banco Security.s e r i e B - 2 b o n d sDATE: Jul 9, 2007.· Debt level: defined as the ratio of debt to shareholders’ equity in the unconsolidated balance sheet, whichshould not exceed 0.40:1 as from the financial statements at September 30, 2003. For determining the level ofdebt in the unconsolidated financial statements, liabilities include all guarantees or collateral granted to coverthe obligations of third parties, even if these are subsidiaries.· Ownership of Banco Security: the Company should be the holder, directly or indirectly through one or moresubsidiaries, of at least 51% of the issued shares with voting rights of Banco Security.