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Manila Bulletin devider Business devider RCBC kicks off P3-B ASEAN Sustainability Bond offer

RCBC kicks off P3-B ASEAN Sustainability Bond offer

Published Jan 31, 2022 04:00 pm

Rizal Commercial Banking Corporation (RCBC), one of the largest banks in the Philippines, has started its public offer for P3-billion worth of Fixed Rate ASEAN Sustainability Bonds.

In a disclosure to the Philippine Stock Exchange, the bank said the bonds will form part of its P100-billion bond and Commercial Paper Programme, with the remaining unissued balance of P27.96 billion.

RCBC

The bonds will be offered with a minimum issue size of P3 billion, with an option to upsize. The bonds were priced on January 28, 2022 and will be offered at a fixed interest rate of 3.00 percent per annum with a tenor of two years and three months (2.25 years).

The funds to be raised from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework.

The public offer will run from January 31, 2022 until February 11, 2022, unless shortened or extended by the bank.

It is expected that, subject to market and other conditions, issuance, settlement, and listing on the Philippine Dealing and Exchange Corporation will be on February 21, 2022.

The Hong Kong and Shanghai Banking Corporation Limited has been mandated as the Sole Lead Arranger and Bookrunner together with RCBC Capital Corporation as the Financial Advisor for this transaction. Selling Agents will be HSBC and RCBC.

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Rizal Commercial Banking Corporation
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