Yuchengco-led Rizal Commercial Banking Corporation has successfully listed its P14.76 billion Series E ASEAN Sustainability Bonds due 2024 on the Philippine Dealing and Exchange Corporation.
Carrying a coupon of 3.00 percent per annum, the bonds saw strong demand from investors which resulted in an order book almost five times its announced minimum issue size of P3 billion. The Bank concluded its offering on Feb. 11, 2022.
The proceeds from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with RCBC’s Sustainable Finance Framework.
The latest bond issuance forms part of RCBC’s P100 billion Bond and Commercial Paper Programme and marks the seventh time that the Bank has tapped the peso bond market.
It also and brings the total amount raised by RCBC from all bonds issuances since 2019 to P86.80 billion, a record amount demonstrating investors’ confidence in the various initiatives RCBC has taken to fuel the Bank’s growth.
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 were HSBC and RCBC.