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Manila Bulletin devider Business devider Banking & Finance devider RCBC eyes at least ₱5 billion from ASEAN sustainability bond issuance

RCBC eyes at least ₱5 billion from ASEAN sustainability bond issuance

Published Mar 2, 2026 11:08 am
Reginaldo Cariaso
Reginaldo Cariaso

Yuchengco-led Rizal Commercial Banking Corp. (RCBC) is planning to raise at least ₱5 billion from the issuance of fixed-rate, peso-denominated Association of Southeast Asian Nations (ASEAN) sustainability bonds, with an oversubscription option.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, March 2, the bank said this will be the ninth drawdown under its ₱200-billion bond and commercial paper program. The bonds will have a tenor of three years from the date of issuance.

As part of RCBC’s commitment to a greener and more sustainable future, proceeds from the bond issuance will be used to finance or refinance, in whole or in part, eligible green and social categories as described in the bank’s sustainable finance framework.

Last Feb. 23, 2026, the Securities and Exchange Commission (SEC) approved RCBC’s application for an ASEAN label. Consequently, these bonds qualify as an ASEAN sustainability bond issuance under ASEAN sustainability bond standards.

Standard Chartered Bank (StanChart) and RCBC Capital Corp. are the mandated joint lead arrangers and bookrunners for the transaction, while the selling agents are StanChart and RCBC.

The public offer period is expected to begin on March 12, 2026, and run until March 27, 2026, subject to final management determination, market conditions, and other factors. The bonds are expected to be issued and listed on Philippine Dealing & Exchange Corp. (PDEx) on April 8, 2026.

In January, RCBC said it was planning to offer fixed-rate, peso-denominated bonds under the remaining ₱101 billion of its bond and commercial paper program.

The bank said proceeds from any offer are intended to support asset growth, refinance maturing liabilities, and fund other general corporate purposes.

The funds may also be used for the financing or refinancing of new or existing sustainable projects as defined under, and consistent with, the bank’s sustainable finance framework, among others.

In July last year, RCBC successfully raised ₱12.21 billion from the issuance of fixed-rate, peso-denominated series F ASEAN sustainability bonds due 2028. The bonds carry a coupon of six percent per annum.

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