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Manila Bulletin devider Business devider Banking & Finance devider RCBC prices new bonds, starts ₱5-billion sustainability offer

RCBC prices new bonds, starts ₱5-billion sustainability offer

Published Mar 12, 2026 09:56 am
Reginaldo Cariaso
Reginaldo Cariaso

Rizal Commercial Banking Corp. (RCBC), the financial services arm of the Yuchengco group, has set the interest rate and started the public offer for its fixed-rate, peso-denominated series G Association of Southeast Asian Nations (ASEAN) sustainability bonds due 2029 to raise at least ₱5 billion.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, March 12, the bank said the bonds will be offered at a fixed interest rate of 6.08 percent per annum, with a tenor of three years from issue date.

To be drawn from RCBC’s ₱200-billion bond and commercial paper program, the bonds have a minimum investment amount of ₱100,000 each, and in increments of ₱10,000 thereafter.

“The funds to be raised from the offer will be used to finance or refinance, in whole or in part, the eligible green and social categories as described in the bank’s sustainable finance framework,” RCBC said.

On February 23, 2026, the bank received confirmation from the Securities and Exchange Commission (SEC) that the bonds comply with ASEAN sustainability bond standards and the guidelines on the issuance of sustainability bonds under ASEAN sustainability bond standards in the Philippines, and qualify as an ASEAN sustainability bond issuance.

The public offer will run from March 12 to 27, 2026, unless shortened or extended by the bank in coordination with the joint lead arrangers, bookrunners, and selling agents.

It is expected that, subject to market and other conditions, the issuance, settlement, and listing of the bonds on Philippine Dealing & Exchange Corp. (PDEx) will take place on April 8, 2026.

Standard Chartered Bank (StanChart) and RCBC Capital Corp. are the joint lead arrangers and bookrunners for this transaction. The selling agents will also be StanChart and RCBC.

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 its asset growth, refinance maturing liabilities, and other general funding 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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