RCBC raises P3B from fresh bond offering | Inquirer Business

RCBC raises P3B from fresh bond offering

/ 05:16 AM March 23, 2021

Yuchengco-led Rizal Commercial Banking Corp. (RCBC) raised P3 billion from a local bond sale that saw significant demand from investors.

In a statement on Monday, RCBC said the money would support business expansion, loan refinancing and other general corporate purposes.


The fixed-rate Asean Sustainability Peso Bond offering, concluded earlier this month, was the company’s sixth foray in the local market.

It was also heavily subscribed with demand reaching almost P17.9 billion or about 5.9 times the offer size, RCBC said.


The bonds will be issued at a fixed coupon of 3.2 percent per annum for the 2.5-year tenor and 4.18 percent per annum for the 5.25-year.

Meanwhile, the securities will be listed on the Philippine Dealing and Exchange Corp. on March 31 this year.

RCBC said the offer was issued under its P100-billion bond and commercial paper program.

Standard Chartered Bank was mandated as the sole lead arranger and bookrunner together with RCBC Capital Corp. as financial adviser.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.