RCBC raises $300M from notes offer


Yuchengco-led Rizal Commercial Banking Corp. (RCBC) has raised $300 million from the sale of five-year debt notes which were priced to yield 4.125 percent per annum.

This marks a drawdown from the bank’s $2-billion medium-term note program.

“The order book was strongly supported by a broad case of accounts, including asset managers, insurance companies, sovereign wealth funds, banks and private wealth managers,” RCBC told the Philippine Stock Exchange on Friday.

About 97 percent of the issuance was allocated to investors in the Philippines and Asia.

The notes were in denominations of $200,000 and increments of $1,000 thereafter. They will mature on March 16, 2023.

RCBC will list the notes on the Singapore Exchange Securities Trading Ltd., similar to its two outstanding US dollar-denominated bonds.

Cathay United Bank, Citigroup, Deutsche Bank, Standard Chartered Bank, UBS and Wells Fargo Securities acted as joint lead managers and joint bookrunners.


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